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Oil and Natural Gas Exploration
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The oil and gas industry comprises two parts: ―upstream — the exploration and production segment of the industry; and ―downstream —the segment that deals with refining and processing of crude oil and gas products, as well as their distribution and marketing. Companies operating in the industry may be regarded as fully integrated, or those that have both upstream and downstream interests, or may concentrate on a particular segment, such as exploration and production, commonly known as an E&P company, or just on refining and marketing. Many large companies operate globally and are described as multi-nationals, while other smaller companies concentrate on specific areas of the world and are often referred to as independents. Frequently, a specific country has vested its interests in oil and gas in a national company, with its name often reflecting its national parenthood.
The oil and natural gas exploration industry consists of companies that are engaged in the exploration and extraction of crude petroleum and natural gas. The industry also consists of the recovery of butane, ethane and natural liquefied petroleum gases (LPG) recovered from oil and gas fields. This industry excludes exploration services on a contract basis, in which are oil-related services. Companies in this industry rely increasingly upon services of contractor companies who provide specialist technical services to the industry, ranging from geophysical surveys, drilling and cementing, to catering and hotel services in support of operations. This relationship between contractors and the oil companies has fostered a close partnership, and increasingly, contractors are fully integrated with the structure and culture of their clients.
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