Exploration and Production (E&P) refers to the processes involved in discovering and extracting natural resources, primarily oil and gas. The exploration phase includes geological surveys, seismic studies, and drilling exploratory wells to locate potential reserves. Companies use advanced technology to assess the viability of these resources before moving to production. Once reserves are confirmed, the production phase begins, which involves drilling production wells and extracting the resources. This phase also includes transporting the extracted oil and gas to refineries or processing plants. E&P is crucial for meeting global energy demands and is often conducted by major companies like ExxonMobil and BP.