SK Innovation Co., South Korea's top refiner, said Sunday it is ramping up efforts to tap into the Indonesian market in a bid to diversify its export markets.

SK Innovation said it has recently won a series of orders from PT Pertamina, Indonesia's state-owned oil and natural gas corporation, to provide petroleum products, beating global competitors.

The winning of the contracts is part of SK Innovation's efforts to make inroads into Indonesia, which has emerged as a new export market for South Korean refiners amid a slump in shipments to China.

Indonesia, the largest economic power in Southeast Asia, relies on imports for 40 percent of its needs for gasoline and other oil products due to dilapidated refining facilities and a lack of refining capacity.

In the first half of the year, South Korean exports of petroleum products to Indonesia came to 16.18 million barrels, up 34 percent from six months earlier, with SK Innovation taking up 90 percent of the total.

"SK Innovation is making concerted efforts to increase sales in Indonesia in the wake of a sharp drop in exports to China, which has sharply increased its refining capacity amid weak demand," a company official said.

Currently, SK Innovation and PT Pertamina operate a joint lubricant plant in Indonesia. (Yonhap)