馬來西亞油氣：市場佔有率分析、產業趨勢、統計數據和成長預測（2026-2031）

預計到 2026 年，馬來西亞的石油和天然氣市場規模將達到 96.6 億美元，高於 2025 年的 91.6 億美元。

預計到 2031 年將達到 125.6 億美元，2026 年至 2031 年的複合年成長率為 5.42%。

馬來西亞油氣市場強勁的成長前景得益於對深水探勘、下游石化一體化以及不斷擴大的碳管理項目的大規模投資。馬來西亞國家石油公司（PETRONAS）的一體化價值鏈開發確保了原料供應的穩定，而產品分成合約（PSC）的審查持續吸引國際合作夥伴。預計沙撈越和沙巴的近海盆地將提高產量，新的液化天然氣（LNG）供應協議將鞏固馬來西亞作為區域天然氣樞紐的地位。同時，馬來西亞半島有利的財政環境和計劃的基礎設施正在加速石化產能的擴張，進一步鞏固馬來西亞作為東南亞能源中心的位置。

馬來西亞油氣市場趨勢及展望

對精煉石油產品的需求迅速成長

東南亞地區燃料消費的復甦和新的出行趨勢正在推動煉油廠的運轉率。邊佳蘭綜合煉油廠計劃於2024年11月投入商業運營，日產能達30萬桶，將為馬來西亞半島向印尼、越南和菲律賓等供應供不應求的市場供應原油奠定基礎。馬來西亞國家石油公司（Petronas）旗下的化學公司正在建造一座年產能3.3萬噸的化學品回收工廠，預計將於2026年竣工，並將循環經濟理念融入其下游業務。這些計劃將保障上游生產商的原油供應，並將馬來西亞定位為加工中心，而不僅僅是原油出口國。

沙撈越和沙巴未開發的深水蘊藏量

蘭卡蘇卡和拉央拉央叢集的前緣區域蘊藏著巨大的天然氣和冷凝油潛力，需要高規格的鑽井平台、海底回接系統和浮體式液化天然氣（LNG）解決方案。在2025年馬來西亞競標中，五個探勘區域和三個開發及風險分擔叢集被選為投資促進項目。康菲石油和殼牌正將其投資組合資本轉向以天然氣為中心的開發項目，以確保LNG原料的穩定供應。穩定的產品分成合約（PSC）框架以及馬來西亞國家石油公司（Petronas）作為資源管理者的角色，縮短了從發現到首次產氣的前置作業時間，從而增強了馬來西亞油氣市場的長期競爭力。

原油價格波動

2024-2025年布蘭特原油價格每桶70-90美元的波動已擾亂了現金流規劃，推遲了一些最終投資決策，並增加了借貸成本。獲利能力較弱的油田的經濟效益仍然對價格下跌十分敏感，尤其是那些需要高成本的氣舉或化學注入來提高產量的油田。馬來西亞石油、天然氣和能源服務理事會提出的財政援助請求凸顯了市場波動所帶來的風險。雖然避險和成本最佳化可能有效，但持續的波動可能會減緩深水油田開發和退役工作的進度。

細分市場分析

2025年，上游業務將佔馬來西亞油氣市場總量的74.85%，主要得益於強勁的產量分成合約（PSC）活動和馬來西亞國家石油公司（PETRONAS）的計劃儲備。 Jerung、Kasawari和Geumsut Kakap油田的重建計劃有助於維持產量，同時抵消自然減產的影響。上游業務在馬來西亞油氣市場的主導地位反映了該國得天獨厚的地理條件（蘊藏著豐富的天然氣和冷凝油蘊藏量）以及有利於油田商業化的財政政策。

預計上游投資動能將持續到2031年，國際業者將陸續獲得深水井區塊和邊際油氣田改造計劃。同時，隨著沙巴-砂拉越天然氣管道於2027年退役，中游企業將面臨為東馬天然氣尋找替代運輸路線的挑戰。下游企業將受惠於新的原料來源，上游產能提升帶來的冷凝油增加將為邊佳蘭重整裝置提供原料。

其他福利：

• Excel格式的市場預測（ME）表
• 分析師支持（3個月）

目錄

第1章 引言

• 研究假設和市場定義
• 調查範圍

第2章調查方法

第3章執行摘要

第4章 市場情勢

• 市場概覽
• 市場促進因素
  • 對精煉石油產品的需求激增
  • 未開發的深水蘊藏量（砂拉越和沙巴）
  • 基於獎勵的生產分成合約（PSC）修訂及財務條款
  • 亞洲液化天然氣需求成長提振馬來西亞出口
  • CCUS和藍氫計劃儲備庫
  • 下游石化一體化趨勢
• 市場限制
  • 原油價格波動加劇
  • 投資方向隨全球能源轉型而改變
  • 基於環境、社會和治理（ESG）的融資限制
  • 老化的海洋基礎設施和不斷上漲的營運成本
• 供應鏈分析
• 監管環境
• 技術展望
• 原油產量和消費量預測
• 天然氣生產與消費預測
• 已安裝管道容量分析
• 非傳統資源資本支出展望（緻密油、油砂、深水）
• 波特五力模型
  • 供應商的議價能力
  • 買方的議價能力
  • 新進入者的威脅
  • 替代品的威脅
  • 競爭對手之間的競爭
• PESTEL 分析

第5章 市場規模與成長預測

• 按行業
  • 上游部門
  • 中游產業
  • 下游產業
• 按地區
  • 陸上
  • 離岸
• 透過服務
  • 建造
  • 維護和檢修
  • 退休

第6章 競爭情勢

• 市場集中度
• 策略性舉措（併購、夥伴關係、購電協議）
• 市場佔有率分析（主要企業的市場排名和佔有率）
• 公司簡介
  • Petroliam Nasional Berhad（Petronas）
  • Shell plc
  • Exxon Mobil Corp.
  • Chevron Corp.
  • BP plc
  • Hibiscus Petroleum Bhd
  • Sapura Energy Bhd
  • Dialog Group Bhd
  • MISC Berhad
  • Yinson Holdings Bhd
  • PTTEP（Malaysia assets）
  • Repsol Exploration（Malaysia）SA
  • Lundin Energy Malaysia
  • Murphy Oil Corporation（Malaysia）
  • Serba Dinamik Holdings
  • Velesto Energy Bhd
  • Malaysia Marine & Heavy Engineering
  • Altus Oil & Gas Malaysia Sdn Bhd
  • Petro-Excel Sdn Bhd
  • Petro Teguh（M）Sdn Bhd

第7章 市場機會與未來展望

Malaysia Oil And Gas Market size in 2026 is estimated at USD 9.66 billion, growing from 2025 value of USD 9.16 billion with 2031 projections showing USD 12.56 billion, growing at 5.42% CAGR over 2026-2031.

The strong growth outlook for the Malaysia oil and gas market stems from sizable investments in deep-water exploration, downstream petrochemical integration, and an expanding carbon management pipeline. Petronas' integrated value-chain footprint secures feedstock reliability, while Production Sharing Contract (PSC) revisions continue to attract international partners. Offshore basins in Sarawak and Sabah are set to deliver incremental volumes, and new LNG supply deals preserve Malaysia's role as a regional gas hub. Meanwhile, constructive fiscal terms and project-ready infrastructure in Peninsular Malaysia accelerate petrochemical capacity additions and reinforce the Malaysia oil and gas market as a Southeast Asian energy pivot.

Malaysia Oil And Gas Market Trends and Insights

Surging Demand for Refined Petroleum Products

Regional fuel consumption recovery and new mobility trends stimulate refinery utilization rates across Southeast Asia. The Pengerang Integrated Complex entered commercial service in November 2024 with 300,000 barrels-per-day capacity, underpinning Peninsular Malaysia's aspiration to supply deficit markets in Indonesia, Vietnam, and the Philippines. Petronas Chemicals is constructing a 33,000-tonnes-per-annum chemical recycling plant due in 2026, embedding circular-economy practices into the downstream landscape. These projects lock in crude intake for upstream producers and frame Malaysia as a processing hub rather than a pure exporter of crude.

Untapped Deep-Water Reserves in Sarawak & Sabah

Frontier acreage in the Langkasuka and Layang-Layang clusters offers sizable gas and condensate potential that requires high-spec rigs, subsea tie-backs, and floating LNG solutions. The Malaysia Bid Round 2025 listed five exploration blocks and three Development and Risk-sharing Option clusters to catalyze investment. ConocoPhillips and Shell have shifted portfolio capital toward gas-weighted developments to maximize LNG feedstock security. The stable PSC framework and Petronas' role as resource custodian shorten lead times from discovery to first gas, enhancing the long-term competitiveness of the Malaysia oil and gas market.

High Crude-Price Volatility

Brent fluctuations between USD 70-90 per barrel in 2024-2025 disrupted cash-flow planning, deferred some final investment decisions, and raised borrowing costs. Marginal field economics remain sensitive to price dips, particularly where enhanced recovery requires costly gas lift or chemical injection. The Malaysian Oil, Gas and Energy Services Council's appeal for fiscal relief underscores exposure to market swings. While hedging and cost optimization help, sustained volatility may temper the pace of deep-water and decommissioning commitments.

Other drivers and restraints analyzed in the detailed report include:

1. Rising Asian LNG Demand Lifting Malaysian Exports
2. Downstream Petrochemical Integration Momentum
3. Global Energy-Transition Investment Shift

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

The upstream segment captured 74.85% of the Malaysia oil and gas market size in 2025, buoyed by robust PSC activity and Petronas' project pipeline. Jerun, Kasawari, and Gumusut-Kakap Redevelopment sustain plateau output while offsetting natural decline rates. The Malaysian oil and gas market share leadership in upstream activities reflects a geology rich in gas-condensate plays and a supportive fiscal regime that accelerates field monetization.

Upstream investment momentum will likely continue through 2031 as international operators secure acreage in deep-water wells and marginal redevelopments. Concurrently, midstream operators face rerouting challenges once the Sabah-Sarawak Gas Pipeline retires in 2027, requiring alternative evacuation for East Malaysian gas. Downstream players benefit from new feedstock when upstream debottlenecking releases incremental condensate volumes that feed into Pengerang's reformers.

The Malaysia Oil and Gas Market Report is Segmented by Sector (Upstream, Midstream, and Downstream), Location (Onshore and Offshore), and Service (Construction, Maintenance and Turn-Around, and Decommissioning). The Market Sizes and Forecasts are Provided in Terms of Value (USD).

List of Companies Covered in this Report:

1. Petroliam Nasional Berhad (Petronas)
2. Shell plc
3. Exxon Mobil Corp.
4. Chevron Corp.
5. BP plc
6. Hibiscus Petroleum Bhd
7. Sapura Energy Bhd
8. Dialog Group Bhd
9. MISC Berhad
10. Yinson Holdings Bhd
11. PTTEP (Malaysia assets)
12. Repsol Exploration (Malaysia) S.A.
13. Lundin Energy Malaysia
14. Murphy Oil Corporation (Malaysia)
15. Serba Dinamik Holdings
16. Velesto Energy Bhd
17. Malaysia Marine & Heavy Engineering
18. Altus Oil & Gas Malaysia Sdn Bhd
19. Petro-Excel Sdn Bhd
20. Petro Teguh (M) Sdn Bhd

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions & Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Surging demand for refined petroleum products
  • 4.2.2 Untapped deep-water reserves (Sarawak & Sabah)
  • 4.2.3 Incentive-driven PSC revisions & fiscal terms
  • 4.2.4 Rising Asian LNG demand lifting Malaysian exports
  • 4.2.5 CCUS & blue-hydrogen project pipeline
  • 4.2.6 Downstream petrochemical integration momentum
• 4.3 Market Restraints
  • 4.3.1 High crude-price volatility
  • 4.3.2 Global energy-transition investment shift
  • 4.3.3 ESG-driven capital access constraints
  • 4.3.4 Aging offshore infrastructure & OPEX escalation
• 4.4 Supply-Chain Analysis
• 4.5 Regulatory Landscape
• 4.6 Technological Outlook
• 4.7 Crude-Oil Production & Consumption Outlook
• 4.8 Natural-Gas Production & Consumption Outlook
• 4.9 Installed Pipeline Capacity Analysis
• 4.10 Unconventional Resources CAPEX Outlook (tight oil, oil sands, deep-water)
• 4.11 Porter's Five Forces
  • 4.11.1 Bargaining Power - Suppliers
  • 4.11.2 Bargaining Power - Buyers
  • 4.11.3 Threat of New Entrants
  • 4.11.4 Threat of Substitutes
  • 4.11.5 Competitive Rivalry
• 4.12 PESTLE Analysis

5 Market Size & Growth Forecasts

• 5.1 By Sector
  • 5.1.1 Upstream
  • 5.1.2 Midstream
  • 5.1.3 Downstream
• 5.2 By Location
  • 5.2.1 Onshore
  • 5.2.2 Offshore
• 5.3 By Service
  • 5.3.1 Construction
  • 5.3.2 Maintenance and Turn-around
  • 5.3.3 Decommissioning

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves (M&A, Partnerships, PPAs)
• 6.3 Market Share Analysis (Market Rank/Share for key companies)
• 6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Products & Services, and Recent Developments)
  • 6.4.1 Petroliam Nasional Berhad (Petronas)
  • 6.4.2 Shell plc
  • 6.4.3 Exxon Mobil Corp.
  • 6.4.4 Chevron Corp.
  • 6.4.5 BP plc
  • 6.4.6 Hibiscus Petroleum Bhd
  • 6.4.7 Sapura Energy Bhd
  • 6.4.8 Dialog Group Bhd
  • 6.4.9 MISC Berhad
  • 6.4.10 Yinson Holdings Bhd
  • 6.4.11 PTTEP (Malaysia assets)
  • 6.4.12 Repsol Exploration (Malaysia) S.A.
  • 6.4.13 Lundin Energy Malaysia
  • 6.4.14 Murphy Oil Corporation (Malaysia)
  • 6.4.15 Serba Dinamik Holdings
  • 6.4.16 Velesto Energy Bhd
  • 6.4.17 Malaysia Marine & Heavy Engineering
  • 6.4.18 Altus Oil & Gas Malaysia Sdn Bhd
  • 6.4.19 Petro-Excel Sdn Bhd
  • 6.4.20 Petro Teguh (M) Sdn Bhd

7 Market Opportunities & Future Outlook

• 7.1 White-space & Unmet-Need Assessment