Southeast Asia is a rapidly developing region with growing energy demands driven by industrialization, urbanization, and a rising middle class. As countries across the region strive to balance economic growth with energy security and sustainability, several key energy companies have emerged as dominant players.
These firms operate across oil and gas, electricity generation, and renewable energy sectors, playing critical roles in shaping the energy landscape of the region. Below are some of the largest and most influential energy companies in Southeast Asia today.
Pertamina, Indonesia
Indonesia’s Pertamina is the region’s largest state-owned energy company. Established in 1957, Pertamina is a fully integrated oil and gas corporation, involved in upstream and downstream operations including exploration, production, refining, and marketing.
As the backbone of Indonesia’s energy infrastructure, Pertamina is central to the country’s domestic energy supply and also engages in international operations.
Pertamina controls much of Indonesia's oil refining capacity and operates several major refineries, making it a pivotal player in meeting the fuel needs of Southeast Asia’s largest economy.
The company has also made significant investments in renewable energy, including geothermal and bioenergy projects, aligning with the national goal to increase the share of renewables in the energy mix.
Despite facing challenges such as fluctuating global oil prices and regulatory constraints, Pertamina remains a formidable force in the regional energy market.
Petronas, Malaysia
Malaysia’s Petroliam Nasional Berhad, better known as Petronas, is another heavyweight in Southeast Asia’s energy industry. Founded in 1974, Petronas is wholly owned by the Malaysian government and has grown into a global oil and gas company with operations in more than 50 countries.
Petronas is known for its technical expertise in offshore oil and gas development, especially in deepwater drilling. The company operates some of the largest and most advanced LNG production facilities in the world, notably the PETRONAS LNG Complex in Bintulu, Sarawak.
LNG exports are a major revenue source for Malaysia and a key component of its energy diplomacy, particularly with East Asian markets like Japan, South Korea, and China.
Besides hydrocarbons, Petronas has also begun to diversify into clean energy. In recent years, it launched its own renewable energy arm, Gentari, to spearhead investments in solar power, hydrogen, and green mobility. This strategic pivot is aimed at ensuring long-term sustainability and relevance in a decarbonizing global energy market.
PTT Public Company Limited, Thailand
Thailand’s PTT Public Company Limited, commonly known as PTT, is a state-owned oil and gas company and a leading player in the Southeast Asian energy sector. Established in 1978, PTT manages the entire oil and gas value chain, from exploration and production to refining, petrochemicals, and retail distribution.
PTT plays a crucial role in Thailand’s energy security by overseeing the supply of natural gas, which fuels the country’s power plants and industries. The company also owns and operates an extensive network of gas pipelines and LNG terminals, enabling efficient energy distribution across the country and to neighboring nations.
In addition to fossil fuels, PTT is increasingly investing in alternative energy and technology. The company has committed to achieving net-zero greenhouse gas emissions by 2050 and is channeling resources into renewable energy, electric vehicles, and carbon capture technologies.
This transformation highlights PTT’s ambition to lead the regional energy transition while maintaining profitability and resilience.
EGAT, Thailand
While PTT dominates the oil and gas sector, the Electricity Generating Authority of Thailand (EGAT) is the mainstay of the country’s electricity generation and transmission infrastructure. As a state-owned enterprise, EGAT is responsible for producing about half of Thailand’s electricity, with the remainder generated by independent power producers.
EGAT’s energy mix includes coal, natural gas, hydroelectricity, and increasingly, renewable sources like solar and wind. The company has initiated several large-scale solar power projects and is also experimenting with energy storage solutions to improve grid stability.
Its role in developing cross-border electricity trade agreements has made EGAT a pivotal player in the regional integration of power systems.
New Potential Players
Beyond these giants, other significant energy firms in the region include Viet Nam’s PetroVietnam and the Philippines’ First Gen Corporation.
PetroVietnam, a state-owned enterprise, is involved in offshore oil and gas exploration and plays a critical role in Viet Nam’s energy supply.
Meanwhile, First Gen leads the Philippines in natural gas and renewable energy development, particularly in geothermal and hydroelectric power.
Southeast Asia’s energy future is increasingly defined by cooperation and cross-border initiatives. Organizations like the ASEAN Centre for Energy are working to harmonize policies and encourage energy connectivity, which benefits from the leadership of these major energy companies.
With energy demand projected to rise significantly over the next two decades, the role of these regional champions will be more important than ever.
