Home Blog Top 10 Oil and Gas Companies in Indonesia: Largest Producers and Gas Leaders Business Setup | Indonesia | Investor KITAS Top 10 Oil and Gas Companies in Indonesia: Largest Producers and Gas Leaders Ascentium Editorial Team 27 October 2026 14 minutes reading time Table of Contents Key Takeaways Who are the largest oil and gas companies in Indonesia? How do Upstream and Downstream Gas Companies Differ? What is an Oil and Gas Company? Top 10 Oil and Gas Companies in Indonesia Which Company is Indonesia's Largest Gas Producer? What Regulations Govern Oil and Gas Companies in Indonesia? Oil and Gas Company Investment Outlook How to Choose the Right Oil and Gas Company for Investment Invest in an Oil and Gas Company with InCorp Frequently Asked Questions The largest gas company in Indonesia by output is not the one most people expect. According to SKK Migas data, BP Berau, operator of the Tangguh LNG facility in West Papua, produced more oil and gas equivalent than any other contractor, ahead of several Pertamina subsidiaries and ExxonMobil’s Cepu block. Together, these oil and gas companies in Indonesia produce around 6,500 million standard cubic feet of gas per day (MMSCFD) and close to 600,000 barrels of oil per day. This guide ranks the top 10 using official production data, separates gas producers from gas distributors, and explains the projects and regulations that will reshape the sector. It also covers what foreign suppliers and investors need to enter the market. Key Takeaways BP Berau is Indonesia’s largest single oil and gas producer at 383 thousand barrels of oil equivalent per day (mboepd), followed by Pertamina EP (215) and ExxonMobil Cepu (159), per SKK Migas data to 31 May 2025. Pertamina remains the largest group overall; its three biggest upstream units together produced about 476 mboepd. Chevron and ConocoPhillips are no longer major operators: Rokan passed to Pertamina in 2021, and ConocoPhillips sold its Indonesian business to MedcoEnergi in 2022. Eni’s Kutei Basin projects, Inpex’s Abadi Masela, and new Andaman discoveries are set to lift gas output toward the government’s 12 bcf/d target. Upstream companies work under production sharing contracts with SKK Migas, now with a simplified gross split option under Permen ESDM 13/2024; a new oil and gas law is still being drafted. Who are the largest oil and gas companies in Indonesia? The table ranks contractors (KKKS) by combined oil and gas production, based on SKK Migas figures to 31 May 2025 presented to the DPR and reported by Bisnis.com. Downstream gas and fuel companies are listed separately below because they distribute energy rather than produce it. RankContractor (KKKS)Parent groupMain assetProduction (mboepd)Lifting (mboepd)1BP Berau LtdBPTangguh LNG, West Papua3833042PT Pertamina EPPertaminaOnshore fields across Java, Sumatra, Kalimantan, Papua2151783ExxonMobil Cepu LtdExxonMobilBanyu Urip, Cepu Block1591524PT Pertamina Hulu RokanPertaminaRokan Block, Riau1581525Medco E&P Grissik LtdMedcoEnergiCorridor Block, South Sumatra1201016PT Pertamina Hulu MahakamPertaminaMahakam Block, East Kalimantan103957Eni East Sepinggan LtdEniMerakes, Kutei Basin75728PetroChina International Jabung LtdPetroChinaJabung Block, Jambi56409Husky-CNOOC Madura LtdCNOOCMadura Strait454210Medco E&P Natuna LtdMedcoEnergiSouth Natuna Sea Block B3729 Production is gross output; lifting is the volume sold or ready for sale. mboepd = thousand barrels of oil equivalent per day. How do Upstream and Downstream Gas Companies Differ? Upstream companies, called KKKS or PSC contractors, explore for and produce oil and gas under contracts with the state, represented by SKK Migas. Downstream companies process, transport, store, and sell fuel and gas, and are licensed by the Ministry of Energy and Mineral Resources (ESDM) and supervised by BPH Migas. This distinction matters when people search for a “gas company in Indonesia.” BP and Pertamina produce the gas, while PGN distributes it to factories, power plants, and households. For a broader look at the value chain, see InCorp’s overview of the oil and gas industry in Indonesia. What is an Oil and Gas Company? The oil and gas industry is one of the world’s largest sectors, generating around $4.2 trillion in global revenue by late 2024. It plays an important role in the economy, powering transportation, electricity, heating, and industrial production. Are Oil and Gas Companies a Good Investment? Indonesia’s oil and gas market is growing, with production expected to rise from 645.39 thousand barrels per day in 2025 to 698.70 thousand barrels per day by 2030, at a CAGR of 1.6%. This growth is caused by a higher demand for petroleum, supported by government policies boosting oil and gas production. However, the industry faces challenges such as oil price volatility and the shift toward renewable energy, which may impact future demand. Despite this, Indonesia’s large oil reserves and strong economic growth make it an attractive market for investors. READ MORE:Unlocking Growth in Indonesia’s Oil and Gas IndustryFiscal Incentives for Oil and Gas Contractors in IndonesiaThe Impact of EU’s Palm Oil Ban on Indonesia Top 10 Oil and Gas Companies in Indonesia State-owned enterprises and private multinational companies dominate Indonesia’s oil and gas industry. Here are the top 10 most successful oil and gas companies in Indonesia: Pertamina State-owned PT Pertamina (Persero) is the largest oil and gas group in Indonesia. Its upstream subholding, Pertamina Hulu Energi, runs Pertamina EP, Pertamina Hulu Rokan, and Pertamina Hulu Mahakam, which together produced about 476 mboepd according to SKK Migas data. Pertamina also controls refining, fuel distribution, and, through PGN, most of the national gas network. Pertamina Hulu Rokan took over the Rokan Block from Chevron Pacific Indonesia in August 2021, which is why Chevron no longer appears among the top producers. Chevron Pacific Indonesia Chevron Pacific Indonesia, a subsidiary of Chevron Corporation, is Indonesia’s second-largest oil and gas company. It contributes approximately 15% of the country’s oil production and is actively involved in several major oil and gas projects across Indonesia. The company uses advanced technology and deep industry expertise to enhance production efficiency and maximize energy output. ExxonMobil Indonesia ExxonMobil Indonesia, a subsidiary of ExxonMobil Corporation, ranks third among Indonesia’s leading oil and gas companies. The company is responsible for around 10% of Indonesia’s oil production, substantially impacting the nation’s energy supply. With cutting-edge drilling, exploration, and oil recovery technologies, ExxonMobil maintains a strong presence in the Indonesian energy sector. ExxonMobil Cepu Ltd operates the Banyu Urip field in the Cepu Block, straddling Central and East Java, in partnership with Pertamina and regional government companies. At 159 mboepd of production and 152 mboepd of lifting, Banyu Urip is one of Indonesia’s most important oil fields. ConocoPhillips Indonesia ConocoPhillips Indonesia is the country’s fourth-largest oil and gas company, accounting for about 5% of Indonesia’s oil production. The company operates in oil and natural gas exploration, development, and production, focusing on sustainable energy practices and resource optimization. Its operations are crucial for maintaining Indonesia’s domestic energy balance and international exports. CNOOC SES Indonesia CNOOC SES Indonesia, a subsidiary of China National Offshore Oil Corporation (CNOOC), secures the fifth spot in Indonesia’s oil and gas industry. The company contributes approximately 4% of the country’s oil production, primarily focusing on offshore exploration and deep-sea drilling. CNOOC SES Indonesia plays a vital role in diversifying Indonesia’s energy sources and technological advancements. Supplying equipment or services to these operators? InCorp helps oilfield service companies set up a PT PMA, match the right KBLI codes, and prepare for vendor registration with SKK Migas contractors. Book a free consultation MedcoEnergi PT Medco Energi Internasional Tbk (MEDC) is Indonesia’s largest privately owned oil and gas company and is listed on the Indonesia Stock Exchange. It became a top-five producer after acquiring ConocoPhillips’ Indonesian business, including the Corridor Block in South Sumatra, in 2022. Medco E&P Grissik (Corridor) and Medco E&P Natuna together produced about 157 mboepd. Medco also won the Nawasena block in East Java in the May 2026 contract round and has interests in power and renewable energy. AKR Corporindo PT AKR Corporindo Tbk (AKRA) is a listed downstream company that trades, stores, and distributes fuel and basic chemicals, and develops the JIIPE industrial estate in Gresik. It is not an oil and gas producer, but it is one of the largest private players in fuel logistics. Petronas Carigali Indonesia Malaysia’s Petronas operates offshore blocks through Petronas Carigali, including Ketapang II off East Java. Its current Indonesian output is modest, but its role is set to grow: Eni plans to contribute its Kutei Basin projects to a business combination with Petronas, which Enerdata reports would create a company producing over 500 kboe/d by 2029. Eni Indonesia Italy’s Eni produces gas from the Kutei Basin offshore East Kalimantan, including the Merakes field operated by Eni East Sepinggan (75 mboepd). Eni’s bigger impact is still ahead: on 18 March 2026 it took final investment decisions on the Gendalo-Gandang and Geng North-Gehem projects, which Enerdata reports are expected to reach about 2 billion cubic feet of gas per day and 90,000 barrels of condensate per day by 2029, feeding Bontang LNG. BP Indonesia BP Berau Ltd operates Tangguh LNG in Bintuni Bay, West Papua, and is the country’s largest single producer at 383 mboepd, almost all of it gas. Tangguh supplies LNG to domestic buyers, including PLN, and to export markets. BP is also expanding. On 20 May 2026, a BP-led consortium signed contracts for the Bintuni and Drawa blocks near Tangguh, and BP partnered with Inpex on the Barong block in East Java, according to S&P Global. Which Company is Indonesia’s Largest Gas Producer? BP Berau is the largest gas producer in Indonesia. ESDM data reported by Databoks shows BP Berau averaged 1,748 MMSCFD in the first half of 2024, about 26% of national gas output, followed by Pertamina EP at 813 MMSCFD. At the national level, gas production reached 6,820 MMSCFD in the first half of 2025, 121% of the state budget target, while gas sales were 5,483 MMSCFD. Through 31 May 2026, production averaged 6,550 MMSCFD against a target of 6,787 MMSCFD, according to SKK Migas data reported by Bisnis.com. What Regulations Govern Oil and Gas Companies in Indonesia? Law 22/2001 on Oil and Gas remains the main law. The DPR adopted a replacement bill (RUU Migas) as its own initiative on 18 August 2026. The draft would replace SKK Migas with a special business entity (BUK) reporting to the President. The government is still finalizing its response (DIM), so the bill has not yet passed. Production sharing contracts: contractors choose cost recovery or gross split. Permen ESDM 13/2024 simplified gross split to five variables and gives contractors a 75–95% share, and up to 95% for unconventional blocks. Tax treatment is explained in InCorp’s guide to fiscal incentives for oil and gas contractors. Business licensing: downstream and supporting-service companies obtain licenses through OSS under PP 28/2025, using KBLI 2025 codes. Local content (TKDN): upstream procurement favors goods and services with Indonesian content, which affects how foreign suppliers structure their local operations. Oil and Gas Company Investment Outlook The investment outlook for oil and gas companies in Indonesia remains positive, driven by rising energy demand, government support, and ongoing exploration projects. With the country aiming to increase production and reduce reliance on imports, domestic and international investors have strong opportunities in the sector. However, market uncertainties such as fluctuating oil prices, regulatory changes, and the global shift toward renewable energy require careful consideration. To navigate these challenges, investors should focus on companies with strong reserves, efficient operations, and diversification strategies. Despite these risks, Indonesia’s oil and gas industry is expected to grow steadily, making it a promising sector for long-term investment. How to Choose the Right Oil and Gas Company for Investment Investing in an oil and gas company in Indonesia requires careful evaluation of several factors. While the sector offers strong opportunities, investors must assess potential risks and market conditions to make informed decisions. Here are three key aspects to consider: Financial Stability and Reserves A company’s financial health and oil and gas reserves are crucial indicators of its long-term profitability. Investors should examine the company’s cash flow, debt levels, and production capacity. Companies with proven reserves and steady revenue streams are generally safer investment options. Operational Efficiency and Technology Oil and gas companies that adopt advanced drilling, refining, and exploration technologies tend to have lower costs and higher efficiency. Investors should prioritize companies with strong infrastructure, cost-effective operations, and sustainable growth strategies. Market Risks and Government Regulations Oil price volatility, regulatory changes, and geopolitical factors influence the oil and gas industry. Before investing, it’s important to understand a company’s compliance with government policies, ability to handle market fluctuations, and efforts toward diversification into alternative energy sources. Guide to Doing Business in Jakarta Mailchimp Free eBook Indonesia Business Insight Subscribe Full NameEmail I have read InCorp's Privacy Policy and agree to InCorp using my information provided to contact me about related content, and services.*Subscribe Invest in an Oil and Gas Company with InCorp Entering Indonesia’s oil and gas industry requires proper company registration and compliance with local regulations. InCorp Indonesia provides expert assistance to ensure a smooth and hassle-free investment process. Company Registration: Register your oil and gas company easily and ensure full compliance with Indonesian business regulations. Investor KITAS: Secure your Investor KITAS (Work & Stay Permit) to live and operate your business in Indonesia. By filling out the form below, you can take advantage of Indonesia’s oil and gas market and build a successful energy business today. Frequently Asked Questions What is the largest oil and gas company in Indonesia? Pertamina is the largest oil and gas group in Indonesia; its three biggest upstream units produced about 476 thousand barrels of oil equivalent per day (mboepd), according to SKK Migas data to 31 May 2025. The largest single contractor is BP Berau Ltd at 383 mboepd, followed by Pertamina EP (215) and ExxonMobil Cepu (159). What is the largest gas company in Indonesia? BP Berau, operator of Tangguh LNG in West Papua, is the largest gas producer, averaging 1,748 MMSCFD or about 26% of national output in the first half of 2024, according to ESDM data. For gas distribution, the largest company is PGN (Perusahaan Gas Negara), Pertamina’s gas subholding. Is Chevron still operating in Indonesia? Chevron is no longer a major producer in Indonesia. Its Rokan Block in Riau, once the country’s largest oil block, was transferred to Pertamina Hulu Rokan in August 2021, and Chevron’s interest in the Indonesia Deepwater Development later passed to Eni. How much oil and gas does Indonesia produce? Indonesia lifted an average of 605,300 barrels of crude oil per day in 2025, and the 2026 target is 610,000 barrels per day. Gas production averaged 6,550 MMSCFD through 31 May 2026 against a target of 6,787 MMSCFD, according to SKK Migas. What major gas projects are under development in Indonesia? The largest are Eni’s Gendalo-Gandang and Geng North-Gehem projects in the Kutei Basin, which reached final investment decision in March 2026 and target about 2 bcf/d by 2029. Inpex’s Abadi Masela LNG project targets a final investment decision in 2027, and new Andaman Sea blocks were awarded to Mubadala and Armada Talu in May 2026. What is the gross split PSC scheme in Indonesia? Under gross split, the contractor and the state divide gross production by a set percentage, and the contractor bears its own costs instead of recovering them from the state. Permen ESDM 13/2024 cut the variables from 13 to 5 and gives contractors a 75–95% share. Contractors may choose gross split or cost recovery. What is the status of Indonesia’s new oil and gas law? Law 22/2001 still governs the sector. A replacement bill (RUU Migas) became a DPR initiative in August 2026 and would create a special business entity (BUK) to replace SKK Migas. As of late October 2026, the government was still finalizing its list of issues (DIM), so the bill had not passed. Can foreign companies invest in Indonesia’s oil and gas sector? Yes. Foreign companies take part in upstream production through production sharing contracts and enter supporting services and downstream business through a PT PMA, subject to the foreign ownership rules for each KBLI under Perpres 10/2021 as amended. InCorp can check your KBLI and set up the PT PMA. How do oilfield service companies become vendors for oil and gas contractors? Contractors (KKKS) procure goods and services through SKK Migas’s Centralized Integrated Vendor Database (CIVD), so suppliers need an Indonesian legal entity, valid business licenses, and CIVD registration before bidding. Local content (TKDN) also affects how bids are scored. Which oil and gas companies are listed on the Indonesia Stock Exchange? Listed companies include MedcoEnergi (MEDC), PGN (PGAS), and AKR Corporindo (AKRA), along with smaller upstream and service companies. Pertamina itself is fully state-owned and not listed.9. Internal linking Read Full Bio Verified by Hotdo Nauli Senior Legal & Delivery Manager at InCorp Indonesia Hotdo heads the Legal and Delivery team at InCorp Indonesia, managing Product Registration, Legal Advisory, and Business Licensing. With over 8 years of experience, she focuses on compliance and integrity,... 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