Upstream

The origin of our energy

Our Upstream business encompasses oil and natural gas exploration and production activities in different parts of the world, where everything begins.

How is the Upstream process?

Our oil and natural gas exploration and production process goes from start to finish. It encompasses the stages of searching for and extracting raw materials, transport to our industrial complexes, and lastly their distribution and commercialization in society.

Step 1: We identify opportunities

The first step is, by using the latest technology, we carry out different geological, geophysical, and environmental impact studies that allow us to determine the potential of any area.

Step 2: Exploration

We assess the characteristics of the onshore or offshore discovery to select the best extraction model, applying the highest safety standards both for people and the environment.

3. Development and production

We build the necessary facilities to maximize the potential of the deposit and we carry out different maintenance tasks to minimize the environmental impact and transport the raw material in the safest way.

The oil journey

Explore where oil and gas come from, and how they have formed part of our history over time.

Talent and the desire to advance move us. If you like challenges and share our values, we'd like to meet you.

Oil and gas are necessary to meet global demand in an affordable manner, while we progressively advance towards a new, more diversified energy model."

Francisco Gea

EMD E&P

Our Upstream explained in numbers

Our aim is to improve in the efficiency of our upstream processes, always maintaining a balance in our reserves between gas and oil, as they are energies that will continue to be important for society in the coming decades.

1.111

Billion boe*

proven reserves of natural gas.

376

kboe/day ^**

net gas production.

571

kboe/day ^**

net hydrocarbon production.

1.490

billion euros

in Upstream investments.

_{** Boe (barrels of oil equivalent)}

_{** Kboe (kilo barrels of oil equivalent)}

Our most important projects

All over the world, we have a strong portfolio of projects contributing significant production and high-quality barrels.

The largest Brazilian pre-salt discovery

The Pão de Açúcar well, located 195 kilometers off the coast of the State of Rio de Janeiro, with more than 700 million barrels of light crude oil and 3 Tcf of gas extracted, has been one of the largest discoveries in the world.

Alaska Pikka, the story of a great discovery in the USA

In North Slope, we find one of the largest fields in the USA, developed together with Armstrong Energy and that is estimated to have produced approximately 1.2 billion recoverable barrels of high-quality light crude oil. The exploration area, known as the Nanushuk formation, presented us with significant challenges due to the extreme conditions, with temperatures as low as -40 °C. A significant test of international collaboration and overcoming of adverse circumstances.

A strategic discovery in the Gulf of Mexico

Leon, a well located 352 kilometers off the coast of Louisiana, in ultra-deep waters of the US Gulf of Mexico, is one of the most profitable areas with the greatest exploration potential in the world. With a total of 9,684 meters, it is one of the deepest wells in which we operate.

Other big discoveries in the deep waters of Mexico

Recently, we made two important oil discoveries in the Polok-1 and Chinwol-1 wells, in which we have confirmed an area of great potential and with excellent properties, finding a net oil column of more than 200 and 150 meters, respectively, which demonstrates, once more, that there is nothing impossible for us.