What is the upstream process?
Upstream
Here is where it all begins
Within all the activities our business comprises, upstream is where all of our operations begin. This term encompasses our oil and gas exploration, development, and production activties worldwide.
What is the upstream process?
Opportunity identification
Before exploration can begin, we need to obtain permission in the form of mineral rights. Then we can start taking measurements to identify and assess the opportunities.
Exploration
We evaluate the characteristics of the onshore or offshore discovery in order to decide on the most appropriate development model and to get a better understanding of the potential reserves so that we can move on to the next phase.
Development and production
We develop and construct the facilities necessary to achieve optimal production. We extract the reserves from the reservoir, producing oil and gas.
Where oil and gas come from
Repsol's Upstream
We generate value by focusing on improving our asset portfolio and maintaining a balance in our reserves between gas and oil, two energy sources that will continue to be important for society in the coming decades.
We are a benchmark operator in hydrocarbon exploration thanks to the use of state-of-the-art technology, which has allowed us at the forefront of some of the greatest discoveries of the last decade.
572,000
barrelsof oil produced on average per day
1.916
billionbarrels of proven reserves
70%
of our proven reserves are gas
Emissions reduction: Our commitment to sustainability
The Upstream business aims to be a sector leader in reducing CO2 emissions by decreasing its carbon intensity by 75% in 2025.
Carbon capture and storage will play a key role in the development of new projects. In 2027, the Company will start up the storage of two million tons of CO2 per year at Sakakemang, the largest gas discovery in Indonesia in the last decade. This capture and storage project is among the largest of its kind in the world, and it will be the first for Repsol and Indonesia.
Its cutting-edge technology and the digitalization of its processes will be key for meeting these targets as well as our circular economy strategy, which includes the development of more than 60 initiatives, the majority of which are linked to the improvement of the efficiency and the innovation of processes.
We focus our activities on key geographic areas with a solid portfolio of short-cycle projects and attractive returns, where value is prioritized over production volume. It relies on its strengths, such as flexibility, efficiency, and the latest technology, to maximize its contribution to the Company.
Our onshore and offshore projects are found across a total of 15 countries
With the best team
We have a team of experienced, highly-committed professionals that work responsibly.
A leader in artificial intelligence
Rubén Rodríguez Torrado from Badajoz is 32 years old and works at Repsol. He has become a world leader in his field.