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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 Reservoirs are normally characterized by the generally accepted metrics on Reserves Classification.
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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 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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[ Petroleum Asset ] [ Petroleum Reservoir ] [ Petroleum Well ] [ Well-Reservoir System (WRS) ] [ Reserves Classification ]
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[ Field Operations ] [ Well Drilling ] [ Data Acquisition ]
[ Surface E&P Disciplines ] [ Subsurface E&P Disciplines ]
[ Land allocation ]