...
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 is Petroleum Reservoir and Petroleum Well, often considered in the context of Well-Reservoir System (WRS).
The size, structure and complexity of Petroleum Reservoir can be primarily assessed through the Reservoirs are normally characterized by the generally accepted metrics on Reserves Classification.
The engineering part of Upstream operations is called Petroleum Engineering which is essentially based on the knowledge areas of:
The primary subject of E&P is exploration of a new or acquisition of existing Petroleum Assets and maintaining a profitable production from them.
The E&P activities are conducted managed by Petroleum Operating Company which also perform search, valuation and acquisition of 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:
...
[ 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 ]
[ Data AcquisitionLand allocation ]