China remains Asia's largest oil and gas producer, with srong upstream resilience driven by national oil companies (NOCs) such as CNPC, Sinopec, and CNOOC. While oil production is set to decline post-2026, natural gas remains stable and central to China's energy transition strategy. Despite geopolitical uncertainty and rising energy security concerns, China continues to invest in mature and offshore fields, supported by enhanced oil recovery (EOR) and reinvestment into low-cost projects. However, exploration is largely internal, licensing is limited, and M&A activity remains domestic and modest.
With declines in onshore production being offset by a ramp-up in offshore and deepwater expansion, Indonesia is keen to continue its E&P activities, and incentivize domestic, and outside investment to do the same. Projects like Geng North, Gendalo-Galang, and renewed investments in Tangguh, will keep up production levels, while ultra-deepwater projects continue to come online.
Today, Pertamina dominates the hydrocarbon sector in Indonesia, but Eni’s acquisitions and drastic growth could reflect a change in market dynamics. Despite all the challenges, Indonesia’s commitment to technological advances to work on maturing fields to increase outputs, increased investments, and ET goals, maintains their status in Southeast Asia, and global energy markets.
With declines in onshore production being offset by a ramp-up in offshore and deepwater expansion, Indonesia is keen to continue its E&P activities, and incentivize domestic, and outside investment to do the same. Projects like Geng North, Gendalo-Galang, and renewed investments in Tangguh, will keep up production levels, while ultra-deepwater projects continue to come online.
Today, Pertamina dominates the hydrocarbon sector in Indonesia, but Eni’s acquisitions and drastic growth could reflect a change in market dynamics. Despite all the challenges, Indonesia’s commitment to technological advances to work on maturing fields to increase outputs, increased investments, and ET goals, maintains their status in Southeast Asia, and global energy markets.
Scope
- In-depth analysis of China's exploration and production sector. It covers crude oil and natural gas production, with focus on major oil developments, licesnsing rounds, and M&A activity.
Reasons to Buy
- Comprehensive, data-driven, timely, region-specific, strategic, insightful, forward-looking, geopolitical, investment-focused, and energy transition.
Table of Contents
1. Executive Insights2. Oil and Condensate Production Outlook
3. Natural Gas Production Outlook
4. Development Outlook
5. Exploration
6. Bidding & Licensing
7. Mergers & Acquisitions
8. Takeaway
List of Figures
Figure 1: China, Crude Oil Production (bd) by Terrain
Figure 2: Top Fields in China by Crude Oil Production
Figure 3: China, Natural Gas Production (bd) by Terrain
Figure 4: Top Fields in China by Natural Gas Production
Figure 5: China, Upcoming Oil & Gas Projects
Figure 6: China, Net Oil Entitlement (mbd) by Major Companies
Figure 7: China, Net Gas Entitlement (mmcfd) by Major Companies
Figure 8: China, Blocks Offered for License, Jan '24 - Dec ' 24
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- CNPC - China National Petroleum Corporation
- CNOOC - China National Offshore Oil Corporation
- Sinopec
- China Petroleum Corporation
- Brightoil Petroleum
- Xinjiang Haoyuan Natural Gas
- PetroChina
- Guangxi Haichuan Energy
- Qingdao Kunlun Yongchang Energy
- Guangxi Tiansheng Port
