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The oil and gas industry is usually divided into three major sectors: upstream, midstream, and downstream. The downstream sector is the refining of petroleum crude oil and the processing and purifying of raw natural gas , [ 1 ] as well as the marketing and distribution of products derived from crude oil and natural gas .
The oil and gas industry is usually divided into three major sectors: upstream (also called exploration and production or E&P), midstream and downstream. [1] [2] The upstream sector includes searching for potential underground or underwater crude oil and natural gas fields, drilling exploratory wells, and subsequently operating the wells that recover and bring the crude oil or raw natural gas ...
The oil and gas industry is usually divided into three major components: upstream, midstream and downstream. The midstream sector involves the transportation (by pipeline , rail, barge, oil tanker or truck), storage, and wholesale marketing of crude or refined petroleum products.
Upstream regards exploration and extraction of crude oil, midstream encompasses transportation and storage of crude, and downstream concerns refining crude oil into various end products. Petroleum is vital to many industries, and is necessary for the maintenance of industrial civilization in its current configuration, making it a critical ...
Petroleum engineering is a field of engineering concerned with the activities related to the production of hydrocarbons, which can be either crude oil or natural gas. [1] Exploration and production are deemed to fall within the upstream sector of the oil and gas industry.
It partners with foreign oil companies to explore Nigeria's fossil fuel resources. The NNPC, with an asset of $153B (USD), is the largest national oil company in Africa. The company boasts of extensive infrastructure and investment in the downstream, midstream and upstream of the Nigerian petroleum industry.
Offshore is part of the upstream sector of the oil and gas industry. [1] Offshore activities include searching for potential underground crude oil and natural gas reservoirs and accumulations, the drilling of exploratory wells, and subsequently drilling and operating the wells that recover and bring the crude oil and/or natural gas to the surface.
The state can agree with the licensees to take it in kind or in cash. This arrangement applies to both crude oil and to natural gas, both in concessionary and contractual license systems. Production shares. The body of a production sharing contract layouts the production share between the contractor(s) and the state or its state-owned oil ...