Home Blog Top 10 Successful Oil and Gas Companies in Indonesia Business Setup | Indonesia | Investor KITAS Top 10 Successful Oil and Gas Companies in Indonesia InCorp Editorial Team 9 April 2025 7 minutes reading time Table of Contents What is an Oil and Gas Company? Top 10 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 Indonesia, a country rich in natural resources, is home to some of Southeast Asia’s biggest oil and gas companies. These companies are crucial to the nation’s economy, contributing to energy security, employment, and technological advancements. With increasing global energy demand, Indonesia’s oil and gas industry continues to expand. But which companies are leading the way? This article explores Indonesia’s top 10 successful oil and gas companies, examining their operations, contributions, and market performance. 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 Pertamina is Indonesia’s largest oil and gas company and a state-owned enterprise crucial to the country’s energy security. Around 60% of Indonesia’s oil and 80% of its natural gas production come from Pertamina, making its significance undeniable. Its operations span exploration, production, refining, and distribution, ensuring a steady energy supply for both domestic and international markets. 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. 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. MedcoEnergi MedcoEnergi is Indonesia’s largest privately owned oil and gas company, holding the sixth position in the industry. The company accounts for about 3% of Indonesia’s oil production and engages in exploration, production, and distribution. As a publicly traded company on the Indonesia Stock Exchange, MedcoEnergi has expanded into power generation and renewable energy, reinforcing its market presence. AKR Corporindo AKR Corporindo is an integrated energy company listed on the Indonesia Stock Exchange. The company specializes in trading, distributing, and storing oil and gas products. AKR Corporindo’s robust supply chain infrastructure and strong market positioning make it a vital player in Indonesia’s fuel and energy distribution network. Petronas Carigali Indonesia Petronas Carigali Indonesia, a subsidiary of Petronas Malaysia, is Indonesia’s eighth-largest oil and gas company. It contributes approximately 2% of the country’s oil production and focuses on offshore exploration and production. Petronas Carigali Indonesia has been critical in strengthening Indonesia-Malaysia energy partnerships and enhancing oil and gas trade within the Southeast Asian region. Eni Indonesia Eni Indonesia, a subsidiary of the Italian energy giant Eni, is ninth among Indonesia’s oil and gas companies. The company accounts for approximately 1% of Indonesia’s oil production and is actively involved in exploration and offshore drilling activities. Eni’s investment in natural gas and LNG projects helps to support Indonesia’s growing energy needs and export market. BP Indonesia BP Indonesia, a subsidiary of British Petroleum (BP), is Indonesia’s tenth-largest oil and gas company. The company controls around 1% of Indonesia’s oil production and operates in oil exploration, LNG production, and refining. BP Indonesia is a leading player in Indonesia’s gas export industry, particularly through its Tangguh LNG project, which supplies energy across Asia. 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 Notify 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. Read Full Bio Verified by Ales Cina Consulting Manager at InCorp Indonesia Aleš manages solution delivery at InCorp Indonesia, optimizing incorporation processes and client relationships. His experience in internal auditing, retail, and sales offers valuable global insights. Aleš, with a degree in Economics and Finance from the Czech Republic, helps clients navigate cross-border business challenges, focusing on cultural and legal insights. Frequently Asked Questions How do investors choose a holding jurisdiction for a PMA firm in Indonesia? Investors considering investments in Indonesia should assess existing International Investment Agreements between Indonesia and other countries. Having a business presence in countries with such agreements may offer incentives like stronger investment protection and higher foreign shareholding in Indonesia. What kind of license does a PMA company need to get? In Indonesia, the licensing system has been updated with the implementation of the Omnibus Law. Businesses are categorized into four risk levels based on the PMA company classification. Licensing requirements vary accordingly, with three main types: Business Identification Number (NIB) Low-risk businesses needing only an NIB Standard Certification Standard Certification is necessary for medium-low and medium-high-risk businesses Licenses/Permits High-risk businesses require licenses/permits Additionally, basic requirements, including business location, must be met. Many licensing processes are facilitated through the Online Single Submission (OSS) platform managed by the Investment Coordinating Board (BKPM). What are the functions and responsibilities of a PMA company’s board and management? Indonesian Company Law establishes a two-tier governance system with Directors managing day-to-day operations and representing the company, while the Board of Commissioners supervises and advises them. The articles of association may empower board of Commissioners to provide consent or assistance to Directors for specific legal acts. Can you provide pricing examples for company registration services? To provide you with accurate pricing information for our product registration services, we consider the complexities of your inquiries and the dynamic nature of regulations in Indonesia. As a result, the pricing for the service may vary accordingly. For detailed information, don’t hesitate to contact our consultants. Get in touch with us. 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