According to the 2008 BP Statistical Energy Survey, Indonesia had proved oil reserves of 4.37 billion barrels at the end of 2007 or 0.35 % of the world's reserves.
Indonesia is the only Southeast Asian member of OPEC, although the country became a slight net oil importer in 2004. According to the 2008 BP Statistical Energy Survey, Indonesia produced an average of 969 thousand barrels of crude oil per day in 2007 and consumed an average of 1156.93 thousand barrels a day.
The majority of Indonesia's producing oil fields are located in the central and western sections of the country. Therefore, the focus of new exploration has been on frontier regions, particularly in eastern Indonesia. Sizable, but as of yet unproven, reserves may lie in the numerous, geologically complex, pre-tertiary basins located in eastern Indonesia. These regions are much more remote and the terrain more difficult to explore than areas of western and central Indonesia.
Indonesia’s oil production has declined in recent years, mainly due to maturation of its existing fields. Natural gas production has increased in recent years, with Indonesia producing 66.72 billion cubic metres of natural gas in 2007. According to the 2008 BP Statistical Energy Survey, Indonesia had 2007 natural gas consumption of 33.8 billion cubic metres and proved natural gas reserves of 3 trillion cubic metres.
Companies producing from existing fields are attempting to increase recovery rates and to prolong the life of the fields. The single largest oil producer in Indonesia is Chevron, which controls Caltex Pacific and Unocal’s former Indonesian assets. BP, ConocoPhillips, ExxonMobil, and Total are also significant oil producers in the country, with China’s state-owned companies PetroChina and China National Offshore Oil Corporation (CNOOC) also having a considerable presence.
According to the 2008 BP Statistical Energy Survey, Indonesia had a 2007 refinery capacity of 1163 thousand barrels a day at its 8 facilities, all of which are operated by PT Pertamina.
