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A part of Petroleum Industry related to exploration and production of hydrocarbons (also called Exploration & Production or E&P).
The key elements of Upstream is Petroleum Reservoir and Petroleum Well, often considered in the context of Well-Reservoir System (WRS).
The size, structure and complexity of Petroleum Reservoirs are normally characterized by the generally accepted metrics on Reserves Classification.
The engineering part of Upstream operations is called Petroleum Engineering which It is essentially based on the knowledge area of Petroleum Geology and other areas of:
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The primary subject of E&P is exploring or acquisition of Petroleum Assetexploration of a new or acquisition of existing Petroleum Assets and maintaining a profitable production from it.
The results of the Exploration lead to the procedure of Booking Reserves.
Petroleum Exploration and Petroleum Production are split into three operational areas each:
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The E&P activities are managed by Petroleum Operating Company with the help of Oilfield Services (OFS) and also undertake:
- searching, evaluating and acquiring the new Petroleum Assets
- selling existing Petroleum Assets in order to raise the funds for a more profitable investment opportunities
- making arrangements for Land allocation required for Petroleum Assets
The Upstream industry is split into two major operational areas: Petroleum Exploration and Petroleum Production:
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See also
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Petroleum Industry (Oil & Gas Industry)
[ Petroleum Asset ] [ Petroleum Reservoir ] [ Petroleum Well ] [ Well-Reservoir System (WRS) ] [ Reserves Classification ]
[ Petroleum Operating Company ] [ Petroleum Service Provider ]
[ Field Operations ] [ Well Drilling ] [ Data Acquisition ]
[ Surface E&P Disciplines ] [ Subsurface E&P Disciplines ]
[ Land allocation ]