Extraction of crude petroleum

NACE code 06.10 covers the extraction of crude petroleum, a critical industry that plays a vital role in the global economy. Crude oil is a naturally occurring hydrocarbon-rich liquid found in underground reservoirs, which is then extracted, refined, and used to produce a wide range of essential products, from transportation fuels to petrochemicals. This industry is a key component of the energy sector, providing the raw material that powers much of the world's economic activity.

The extraction of crude petroleum typically involves a multi-step process. First, exploratory drilling is conducted to locate and assess the size and quality of underground oil reserves. Once a viable deposit is identified, production wells are drilled to extract the crude oil from the reservoir. The extracted oil is then transported, often through pipelines, to refineries where it undergoes further processing to separate it into various petroleum products.

The main inputs required for the extraction of crude petroleum include specialized drilling equipment, such as rigs, pumps, and pipes, as well as a skilled workforce of geologists, engineers, and technicians. Additionally, the industry relies on a range of supporting services, including transportation, logistics, and maintenance providers. Access to the natural resource itself, in the form of underground oil reserves, is of course the most critical input for this industry.

The primary output of the crude petroleum extraction industry is, naturally, crude oil. This raw material is then processed and refined into a wide variety of petroleum products, including 19.20 Manufacture of refined petroleum products, 20.14 Manufacture of other organic basic chemicals, and 49.50 Transport via pipeline. These refined products are essential for powering transportation, generating electricity, and serving as feedstock for the petrochemical industry.