Hydrocarbon exploration (or oil and gas exploration) is the search by petroleum geologists and geophysicists for deposits of hydrocarbons, particularly petroleum and natural gas, in the Earth using petroleum geology.
An exploration & production (E&P) company is in a specific sector within the oil and gas industry. Companies involved in the high-risk/high-reward area of exploration and production focus on finding, augmenting, producing, and merchandising different types of oil and gas.
Exploration and production (E&P) is known as the upstream segment of the oil and gas industry. The resource owners and operators of E&Ps work with a variety of contractors such as engineering procurement and construction (EPC) contractors, as well as with joint-venture partners and oil field service companies, and as E&P operators produce oil and gas, they also build infrastructure and collect massive amounts of analytical data.