Upstream ( petroleum industry ) - wikipedia Upstream ( petroleum industry ) For other uses, see Upstream ( disambiguation ). The oil and gas industry is usually divided into three major sectors : upstream ( or exploration and production - E&P ), midstream and downstream. The upstream sector includes searching for potential underground or underwater crude oil and natural gas fields, drilling exploratory wells, and subsequently drilling and operating the wells that recover and bring the crude oil or raw natural gas to the surface. There has been a significant shift toward including unconventional gas as a part of the upstream sector, and corresponding developments in liquefied natural gas ( LNG ) processing and transport. Upstream Industry has traditionally experienced the highest number of Mergers, Acquisitions and Divestitures. M&A activity for upstream oil and gas deals in 2012 totaled $254 billion in 679 deals. A large chunk of this M&A, 33 % in 2012, was driven by the unconventional / shale boom especially in the US followed by the Russian Federation and Canada. The aggregate value of Upstream E&P assets available for sale ( Deals in Play ) reached a record - high of $135 billion in Q3 - 2013. The value of Deals in Play doubled from $46 billion in 2009 to $90 billion in 2010. With ongoing M&A activity the level remained almost the same reaching $85 billion in Dec - 2012. However, the first half of 2013 saw approximately $48 billion of net new assets coming on the market. Remarkably, the total value of Deals in Play in Q3 - 2013 nearly tripled over 2009 at $46 billion, in less than four years. Contents 1 Business 2 Upstream in ISO 3 See also 4 References 5 External links Business This categorization comes from value chain concepts, even before formal development Value Chain Management. Integrated Oil & Gas Company : A company that has upstream as well as downstream operations. Examples include ExxonMobil, BP, Royal Dutch Shell and ChevronTexaco. Independent Oil & Gas Company : A company that has either upstream or downstream operations, but not both. Examples include Anadarko, Sunoco, Phillips 66, ConocoPhillips, and Murphy. Oil Service Company : A company that provides products and / or services to the oil and gas industry. Usually a combination of labor, equipment, and / or other support services. Examples include Baker Hughes, Haliburton, and Schlumberger. Oil Equipment Manufacturer : A company that specializes in the sale and distribution of equipment to the oil and gas industry. Security Many major security companies take part in securing the industry. Other : Any other oil and gas related business not defined above. Upstream in iso In ISO 20815 define Upstream in definition section as : 3.1. 48 upstream business category of the petroleum industry involving exploration and production. Example : Offshore oil / gas production facilities, Drilling rigs, intervention vessel. See also Coal bed methane Downstream ( petroleum industry ) Extraction of petroleum Gas field Hydrocarbon exploration Midstream Natural Gas Natural gas condensate Natural - gas processing Petroleum Oil production plant Oil refinery Oil well List of oil exploration and production companies References Jump up ^ Upstream, midstream & downstream Archived 2014 - 01 - 07 at the Wayback Machine. Jump up ^ Industry Overview from the website of the Petroleum Services Association of Canada ( PSAC ) Jump up ^ Coalbed Methane Basic Information Jump up ^ http://www.1derrick.com/oil-and-gas-ma-values-reach-record-254-billion-in-2012/5232/ Jump up ^ http://www.1derrick.com/135-billion-worth-oil-and-gas-assets-on-the-market/11420/ ^ Jump up to : American Petroleum Institute Definition Of Upstream Company and description Jump up ^ `` Eyal Mesika - Security Issues in the Upstream Oil Industry - OilVoice ''. www.oilvoice.com. Retrieved 2017 - 04 - 20. Jump up ^ ISO 20815 Petroleum industry Petroleum Primary energy Benchmarks Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus - 34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western Canadian Select Data Natural gas Consumption Production Reserves Imports Exports Price Petroleum Consumption Production Reserves Imports Exports Price ( of gasoline and diesel ) Exploration Core sampling Geophysics Integrated asset modelling Petroleum engineering Reservoir simulation Seismic to simulation Petroleum geology Petrophysics Reflection seismology ( Seismic inversion ) Seismic source Drilling Blowout Completion ( Squeeze job ) Differential sticking Directional drilling ( Geosteering ) Drilling engineering Drilling fluid ( invasion ) Drill stem test Lost circulation Measurement Tracers Underbalanced drilling Well logging Production Petroleum fiscal regime Concessions Production sharing agreements Artificial lift Pumpjack Submersible pump ( ESP ) Gas lift Downstream Enhanced oil recovery ( EOR ) Steam injection Gas reinjection Midstream Petroleum product Pipeline transport Refining Upstream Water injection Well intervention XT History 1967 Oil Embargo 1973 oil crisis 1979 energy crisis 1980s oil glut 1990 oil price shock 2000s energy crisis 2010s oil glut Founders History of the petroleum industry Nationalization OPEC GECF Seven Sisters Standard Oil Oil market timelines Provinces and fields List of natural gas fields List of oil fields East Midlands Oil Province East Texas Gulf of Mexico Niger Delta North Sea Permian Basin Persian Gulf Prudhoe Bay Oil Field Russia Venezuela Western Canadian Sedimentary Basin Other topics Acronyms Oil shale gas Peak oil mitigation timing People Petrocurrency Petrodollar recycling Shale band Shale gas Swing producer Unconventional oil heavy crude oil sands oil shale Companies and organisations Major petroleum companies Supermajors BP Chevron Eni ExxonMobil Royal Dutch Shell Total National oil companies ADNOC ( UAE ) CNOOC ( China ) CNPC ( China ) Ecopetrol ( Colombia ) Gazprom ( Russia ) Iraq National Oil Company Indian Oil Corporation KazMunayGas ( Kazakhstan ) Kuwait Petroleum Corporation Lotos ( Poland ) Nigerian National Petroleum Corporation NIOC ( Iran ) NISOC ( Iran ) OGDCL ( Pakistan ) ONGC ( India ) PDVSA ( Venezuela ) PKN Orlen ( Poland ) Pemex ( Mexico ) Pertamina ( Indonesia ) PetroBangla ( Bangladesh ) Petrobras ( Brazil ) PetroChina Petronas ( Malaysia ) Petrovietnam PTT ( Thailand ) Qatar Petroleum Rosneft ( Russia ) Saudi Aramco ( Saudi Arabia ) Sinopec ( China ) SOCAR ( Azerbaijan ) Sonangol ( Angola ) Sonatrach ( Algeria ) Statoil ( Norway ) TPAO ( Turkey ) YPF ( Argentina ) Energy trading Glencore Gunvor Mercuria Naftiran Intertrade Trafigura Vitol Other Anadarko Apache BG Group Cenovus Energy Compañía Española de Petróleos ConocoPhillips Devon Galp Energia Hess Husky Energy Imperial Oil Lukoil Marathon Oil Nippon Oil Occidental OMV Port Harcourt Refining Company Reliance Industries Repsol Suncor Energy Surgutneftegas TNK - BP Tullow Oil Tüpraş Major services companies Amec Foster Wheeler Baker Hughes Cameron CGG CH2M Hill Chicago Bridge & Iron Company China Oilfield Services Enbridge Ensco GE Oil & Gas Halliburton Nabors Industries Naftiran Intertrade National Oilwell Varco Petrofac Saipem Schlumberger Snam Subsea 7 TransCanada Transocean Weatherford Wood Group Other International Association of Oil & Gas Producers International Energy Agency International Petroleum Exchange OPEC Society of Petroleum Engineers World Petroleum Council Commons External links Upstream innovations Retrieved from `` https://en.wikipedia.org/w/index.php?title=Upstream_(petroleum_industry)&oldid=818881251 '' Categories : Natural gas Petroleum production Hidden categories : Webarchive template wayback links Talk Contents About Wikipedia Español فارسی Italiano Norsk Norsk nynorsk Português Suomi Türkçe Edit links This page was last edited on 6 January 2018, at 04 : 05. 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Question: what is upstream project in oil and gas
Answer: searching for potential underground or underwater crude oil and natural gas fields, drilling exploratory wells, and subsequently drilling and operating the wells that recover and bring the crude oil or raw natural gas to the surface; searching for potential underground or underwater crude oil and natural gas fields