Definition - What does Upstream mean?
Oil and natural gas organizations work under three departments. Upstream is the primary division that caters for Exploration and Production tasks. Hence, this department is also referred to as E&P. This division is responsible for carrying out surveys and locating natural underground sources of crude oil and natural gas.
Petropedia explains Upstream
Out of the three building blocks of oil and gas organizations, Upstream is a crucial division that holds the important role of exploring and producing the products in the industry. This department conducts geological and geophysical surveys to find out the possible sources of oil and natural gas beneath the earth’s surface. If a source is located, the Upstream division leases out the land, drills the earth, makes an oil well and sources for the production phase.