Indonesia Oil & Gas Upstream Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Indonesia Oil and Gas Upstream Companies and Production Trends and is Segmented by Location of Deployment (Onshore and Offshore) and Product (Crude Oil, Natural Gas, and Other Products).

Indonesia Oil & Gas Upstream Market Size

Indonesia Oil & Gas  Upstream Market- Market Summary

Indonesia Oil & Gas Upstream Market Analysis

The Indonesia Oil and Gas Upstream Market is expected to register a CAGR of greater than 2.5% during the forecast period.

The crude oil segment is expected to dominate the market during the forecast period due to government initiatives to boost oil production.

The depleting mature oil and gas fields create an opportunity for better avenues for exploration and production activities. The proved crude oil reserves stood at around 2.5 billion barrels in 2021, and the replacement rate for oil reserves dropped to 50% due to the lack of exploration activities in the recent past. Thus, the country urgently requires more E&P activities to meet the growing energy demand.

The growing penetration of renewables for energy supply is likely to be the toughest restraint for the market over the coming years.

Indonesia Oil & Gas Upstream Industry Overview

The Indonesian oil and gas upstream market is moderately consolidated. Some of the key players in the market include Chevron Corporation, ExxonMobil Corp., PT Pertamina Persero, Energi Mega Persada Tbk PT, and CNOOC Ltd, among others.

Indonesia Oil & Gas Upstream Market Leaders

  1. Chevron Corporation

  2. Exxon Mobil Corp

  3. Energi Mega Persada Tbk PT

  4. CNOOC Ltd.

  5. PT Pertamina Persero

  6. *Disclaimer: Major Players sorted in no particular order
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Indonesia Oil & Gas Upstream Market News

In June 2021, Indonesia approved 12 plans of development for new offshore and onshore oil and gas projects worth USD 1.34 billion. The upstream regulator SKK Migas and the Ministry of Energy & Mineral Resources have approved the development of the oil and gas fields having around 114.4 million barrels of oil equivalent. These include Bambu Besar, West Suko, Handil WF, Kumis-02, Bentayan, and Acacia Bagus-Ganta fields.

In August 2020, the Ministry of Energy and Mineral Resources passed a regulation to grant more flexibility in production sharing contracts. With the new regulation, companies can now choose to either use a cost recovery or gross split-based production sharing contract (PSC). It repealed the earlier law that made gross split-based production compulsory for new contracts in the last three years.

Indonesia Oil & Gas Upstream Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Indonesia Crude Oil Production and Forecast, till 2027
  • 4.3 Indonesia Natural Gas Production and Forecast, till 2027
  • 4.4 Recent Trends and Developments
  • 4.5 Government Policies and Regulations
  • 4.6 Market Dynamics
    • 4.6.1 Drivers
    • 4.6.2 Restraints
  • 4.7 Supply Chain Analysis
  • 4.8 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 Location of Deployment
    • 5.1.1 Onshore
    • 5.1.2 Offshore
  • 5.2 Product
    • 5.2.1 Crude Oil
    • 5.2.2 Natural Gas
    • 5.2.3 Other Products

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Chevron Corporation
    • 6.3.2 ExxonMobil Corp.
    • 6.3.3 PT Pertamina Persero
    • 6.3.4 Energi Mega Persada Tbk PT
    • 6.3.5 CNOOC Ltd
    • 6.3.6 Indrillco Group
    • 6.3.7 Black Platinum Energy Ltd
    • 6.3.8 Petroliam Nasional Berhad (Petronas)
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Indonesia Oil & Gas Upstream Industry Segmentation

The Indonesian oil and gas upstream market report includes:

Location of Deployment Onshore
Offshore
Product Crude Oil
Natural Gas
Other Products
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Indonesia Oil & Gas Upstream Market Research FAQs

What is the current Indonesia Oil and Gas Upstream Market size?

The Indonesia Oil and Gas Upstream Market is projected to register a CAGR of greater than 2.5% during the forecast period (2025-2030)

Who are the key players in Indonesia Oil and Gas Upstream Market?

Chevron Corporation, Exxon Mobil Corp, Energi Mega Persada Tbk PT, CNOOC Ltd. and PT Pertamina Persero are the major companies operating in the Indonesia Oil and Gas Upstream Market.

What years does this Indonesia Oil and Gas Upstream Market cover?

The report covers the Indonesia Oil and Gas Upstream Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Indonesia Oil and Gas Upstream Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Indonesia Oil & Gas Upstream Industry Report

Statistics for the 2025 Indonesia Oil and Gas Upstream market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Indonesia Oil and Gas Upstream analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Indonesia Oil & Gas Upstream Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)