Oil and gas extraction is a vital industry, responsible for the exploration and production of petroleum and natural gas from wells. The process involves various stages, including exploration, drilling, and production, with each stage requiring specialized equipment and skilled workers. The main types of activities involved in oil and gas extraction are upstream activities, which encompass exploration and production, midstream activities, which involve transportation and storage, and downstream activities, which involve refining and marketing. In this post, we will focus on the oil and gas upstream activities, exploring what they involve and their impact on the industry.
1. Oil and gas extraction is a vital industry responsible for the exploration and production of petroleum and natural gas from wells.
2. The process of extraction involves various stages including exploration, drilling, and production, each requiring specialized equipment and skilled workers.
3. Activities involved in oil and gas extraction are categorized into upstream activities (exploration and production), midstream activities (transportation and storage), and downstream activities (refining and marketing).
4. Upstream activities specifically involve searching for potential underground oil and gas fields, drilling exploratory wells, and extracting resources using techniques like hydraulic fracturing or drilling.
5. These activities are often carried out by large energy companies or specialized service providers in remote locations worldwide.
In 2020, the global oil and gas production reached approximately 100 million barrels per day.
Oil and gas upstream activities involve the searching for potential underground oil and gas fields, drilling exploratory wells to assess the presence and quantity of reserves, and extracting these valuable resources using various techniques such as hydraulic fracturing or drilling. These activities are typically carried out by large energy companies or specialized service providers, often operating in remote locations across the globe.