Market Size of Indonesia Oil And Gas Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Volume (2024) | 635.23 Thousand barrels per day |
| Market Volume (2029) | 687.70 Thousand barrels per day |
| CAGR (2024 - 2029) | 1.60 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Indonesia Oil and Gas Market Analysis
The Indonesia Oil And Gas Market size in terms of production volume is expected to grow from 635.23 Thousand barrels per day in 2024 to 687.70 Thousand barrels per day by 2029, at a CAGR of 1.60% during the forecast period (2024-2029).
- Over the medium term, factors such as increasing demand for petroleum products due to the growth of the local economy coupled with government initiatives to boost the production of crude oil and natural gas are likely to drive the market.
- On the other hand, the high volatility of crude oil prices due to many factors and the increasing adoption of renewable energy are expected to restrain the market.
- Nevertheless, Indonesia has one of the largest proven oil reserves among Southeast Asian countries. The country is also seeing rapid economic growth, as a result, demand for petroleum and derived petroleum products will likely shoot up in the future. Such developments will likely present significant opportunities for players involved in the market.
