Indonesia Oil & Gas Industry Report - 2014

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Indonesia Oil & Gas Industry Report - 2014

This report profiles Indonesia’s oil and gas industry, discussing market trends and outlook through 2013 and 2014. The report also highlights leading players in the sector including PT Medco Energi Internasional Tbk, PT Perusahaan Gas Negara Tbk, and PT Energi Mega Persada Tbk.

The Indonesian oil and gas sector witnessed a tough period in FY13. The upstream segment saw a decline in the production of crude oil as well as natural gas. Furthermore, domestic crude production was not sufficient to meet the demand. As a result, a large proportion of the requirement was met through imports, thus disturbing the trade balance in the sector as well as the economy. There has been a rapid increase in trade deficit recorded in the sector during the last five years despite having a substantial export share.

Government subsidies are another concern in the sector. Though the government has tried to reduce it by gradually implementing some cuts, yet it still poses a big drain on the country’s fiscal balance. The subsidies also make private sector participation in the downstream market unviable.

In FY14, decline in crude oil prices post second quarter brought some relief to the trade balance as the value of imports declined. Natural gas exports also revived, reversing the trend of the last two years. However, oil production continued to decline causing a strain in finances of upstream players. The oil and gas players will have to brace up and look at ways to pump up their production in order to stay competitive and profitable in the coming years.

Key Points:

• Indonesia was ranked 24th in terms of crude production and accounted for about 1% of the global production as of 2013.

• The country is highly dependent on the oil and gas sector for its primary energy consumption. Petroleum and natural gas together accounted for 53% of the country’s primary energy consumption requirement.

• Total oil production declined at a CAGR of 3% during 2009-13. Meanwhile, domestic consumption of petroleum grew at a CAGR of 4% during the same period.

• FY14 proved to be a tough year for the economy with GDP slowing to a five-year low. Oil and gas mining and production emerged as one of the worst performing sectors, showing a successive decline in all the three quarters.


Table of Contents

1. Industry Profile
1.1 Sector overview
1.2 Sector size
1.3 Competitive landscape
1.4 Environmental scanning

2. Market Trends and Outlook
2.1 Key economic indicators-Indonesia
2.2 Reserves and exploration
2.3 Production trends
2.4 Refining
2.5 Consumption
2.6 Trade
2.7 Price
2.8 Subsidies
2.9 Market outlook

3. Leading Players and Comparative Matrix
3.1 Leading Players
3.1.1 PT Medco Energi Internasional Tbk (Medco Energi)
3.1.2 PT Perusahaan Gas Negara Tbk (PGN)
3.1.3 PT Energi Mega Persada Tbk (EMP)
3.2 Comparative matrix
3.3 SWOT analysis

4. Tables and Charts
Table 1: Major oil basins in Indonesia
Table 2: Major gas basins in Indonesia
Table 3: Key financial ratios of the leading players
Table 4: Financial performance of the leading players in 9MFY14

Chart 1: Supply and demand of oil in Indonesia during the last few years
Chart 2: Breakup of global oil supply by country
Chart 3: Indonesia total primary energy consumption
Chart 4: Breakup of Indonesian GDP by sectors
Chart 5: Contribution from oil and gas sector to Indonesian GDP at current prices
Chart 6: Position of People's Representative Council after 2014
Chart 7: Per capita GDP of Indonesia
Chart 8: Oil consumption per capita-2012 (bbl/day/1000 people
Chart 9: Quarterly GDP growth rate-Indonesia
Chart 10: Trade balance of Indonesia
Chart 11: Average monthly USD to IDR exchange rate
Chart 12: Government budget deficit
Chart 13: CPI Inflation during FY13-14-Indonesia
Chart 14: BI rate
Chart 15: Proven crude oil reserves in Indonesia
Chart 16: Proven natural gas reserves in Indonesia
Chart 17: Annual crude oil production in Indonesia
Chart 18: Crude oil production in Indonesia by companies
Chart 19: Annual natural gas production in Indonesia
Chart 20: Natural gas production by companies
Chart 21: Annual refinery capacity in Indonesia
Chart 22: Share of crude refining capacity by refineries
Chart 23: Deficit between production and consumption of petroleum
Chart 24: Surplus recorded in production of natural gas
Chart 25: Net imports of oil products in value terms
Chart 26: Net exports of gas in value terms
Chart 27: Annual average price of crude oil
Chart 28: Monthly average price of crude oil
Chart 29: Breakup of total Central Government subsidies
Chart 30: Annual budgeted fuel subsidies in Indonesia
Chart 31: Annual production of Medco Energi
Chart 32: Annual revenues of Medco Energi
Chart 33: Profit margins of Medco Energi
Chart 34: Length of distribution pipeline network of PGN
Chart 35: Annual revenues of PGN
Chart 36: Profit margins of PGN
Chart 37: Annual Production of EMP
Chart 38: Annual revenues of EMP
Chart 39: Profit margins of EMP

Number of pages: 33
Release Date: Fri, 28 Nov 2014