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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.
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:
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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 by Petroleum Operating Company which 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
The Upstream industry is split into two major operational areas: Petroleum Exploration and Petroleum Production:
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