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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 by Petroleum Operating Company which also perform search, valuation and acquisition of undertake:
- searching, evaluating and acquiring the new Petroleum Assets
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- selling existing Petroleum Assets in order to raise the funds for a more profitable investment opportunities
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The Upstream industry is split into two major operational areas: Petroleum Exploration and Petroleum Production:
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