Exploration and production
Definition: What does “exploration and production” mean?
“Exploration and production” is the search for and extraction of crude oil, natural gas and geothermal energy.
In the field of crude oil and natural gas extraction, the English terms “exploration and production”, “exploration & production” or “E & P” are normally used.
Abbreviation: E & P
Phases of exploration and production
The exploration and production of crude oil, natural gas and geothermal energy can be divided into the following phases:
- Prospecting: Searching for and exploring deposits of crude oil, natural gas and geothermal energy for extraction
Onshore development of crude oil, natural gas or geothermal energy from the surface or through the mining of deeper deposits on land.
Offshore development of crude oil and natural gas deposits with oil rigs in the ocean.
In the extraction of crude oil and natural gas, one differentiates between primary, secondary and tertiary extraction depending on the degree of difficulty.
Depending on the development area, one differentiates between the offshore extraction of crude oil, natural gas and geothermal energy in the ocean and onshore extraction on land.
Exploration and production companies
Exploration and production companies include large enterprises in the oil industry as well as numerous drilling companies and highly specialised E & P service providers that support projects and handle project management or other jobs.