O&G Operations What do they do?

1. Reserves

1.1. Importance, going concern

1.2. Growth

1.2.1. Exploration

1.2.2. Acquisition

1.2.3. Development

1.3. Onshore vs. Offshore

1.3.1. Logistics

1.3.2. Cash Cost

1.4. Reserve-Replacement Ratio

1.5. Reserve Claissification

1.5.1. US, Proven 1P

1.5.2. UK, Commercial

1.5.3. Other, 1P 2P

1.6. Production Cost per Unit

2. Classsification

2.1. Upstream

2.1.1. Characteristics:

2.1.1.1. A high level of risk

2.1.1.2. long time span

2.1.1.3. etc..

2.2. Downstream

2.3. Integrated

2.4. Accounting distingueshes between

3. Mission, Aim, Task

4. Generell

4.1. remains our primary source of energy

4.1.1. apporx. 82mil barrel a day

4.2. particullary in Upstream

4.2.1. Reserves are assets

4.3. Challenge is to

4.4. Contracts and its forms

4.4.1. PSC

4.4.2. Royalty

4.4.3. Working interest