Its oil and gas reserves as of the
end of 2014 represent less than 1% and 3.6% of the world total and are unevenly
distributed across the region. Indonesia and Malaysia together hold the lion’s share with
56% and 74% of the region’s proven oil and gas reserves. Thailand and Philippines have
very limited indigenous oil and gas reserves, while there is a significant upside potential –
mainly for natural gas production – in Myanmar, which remains largely under-explored but
has recently opened its energy sector to foreign companies. Southeast Asia has significant
coal resources, the bulk of them in Indonesia – one of the world’s largest producers and the
largest exporter – and to a lesser extent in Viet Nam (Figure 3.1).