OIL & GAS REVISION

Upstream is E&P (Exploration and Production). This involves the search for underwater and underground natural gas fields or crude oil fields and the drilling of exploration wells and drilling into established wells to recover oil and gas.

• TRUE

• FALSE

Midstream refers to the filtering of the raw materials obtained during the upstream phase.

• TRUE

• FALSE

Downstream refers to refining crude oil and purifying natural gas. The marketing and commercial distribution of these products to consumers and end users.

• TRUE

• FALSE

OIL & GAS PROJECT LIFECYCLE

• UPSTREAM -> DOWNSTREAM -> MIDSTREAM

• DOWNSTREAM -> MIDSTREAM -> UPSTREAM

• UPSTREAM -> MIDSTREAM -> DOWNSTREAM

What are the three interconnected segments of the oil and gas industry?

• Upstream, Midstream, Downstream
• Exploration, Production, Refining
• Drilling, Transportation, Marketing
• Onshore, Offshore, Unconventional

What is the primary purpose of the upstream sector?

• Transporting and storing crude oil and natural gas
• Identifying, extracting, and producing raw materials
• Converting crude oil and natural gas into finished products
• Distributing refined products to end-users

What is the primary purpose of geological surveys in oil and gas exploration?

• To identify promising geological formations that may contain hydrocarbon deposits
• To extract oil and gas from the reservoir
• To transport oil and gas to refineries
• To convert crude oil into finished products

What is the main purpose of the exploration stage in oil and gas production?

• To extract oil and gas from the reservoir
• To identify potential oil and gas reserves
• To transport oil and gas to refineries
• To convert crude oil into finished products

Which practice helps upstream companies minimize environmental impact?

• Disregarding community engagement
• Flaring gas
• Conducting environmental impact assessments
• Avoiding technological advancements

Appraisal phase is focused on?

• Identify regions of interest by evaluating technical, political, economic, social, and environmental factors
• Extraction of oil from a well by drilling and extraction
• Process of plugging off and abandoning well
• Evaluating the potential of a hydrocarbon discovery and selecting the most advantageous development choices