Extraction of crude petroleum

isic code 061 covers the extraction of crude petroleum, a critical industry that plays a vital role in the global economy. Crude petroleum is the raw material used to produce a wide range of essential products, from transportation fuels to petrochemicals, making it a fundamental input for numerous other industries. The extraction of crude petroleum is a complex and technologically advanced process that requires significant investment and specialized expertise.

The extraction of crude petroleum typically involves drilling wells into underground or underwater oil reservoirs. Once a viable oil field is identified, specialized equipment is used to extract the crude oil, which is then transported to refineries for further processing. Advanced techniques such as hydraulic fracturing and horizontal drilling have expanded the industry's ability to access previously inaccessible oil reserves, contributing to the steady supply of this essential resource.

The extraction of crude petroleum requires a range of inputs, including drilling rigs, pumps, pipelines, and other specialized equipment. Additionally, the industry relies on a skilled workforce of engineers, geologists, and technicians to locate, extract, and transport the crude oil. Significant investments in exploration and development activities are also necessary to identify and access new oil reserves.

The primary output of the crude petroleum extraction industry is, of course, crude oil. This raw material is then processed by 192 Manufacture of refined petroleum products to produce a wide range of fuels, lubricants, and petrochemicals that are essential for 19 Manufacture of coke and refined petroleum products, 20 Manufacture of chemicals and chemical products, and 49 Land transport and transport via pipelines industries, among others.