Oil has been used for lighting purposes for many thousands of years. In areas where oil is found in shallow reservoirs, seeps of crude oil or gas may naturally develop, and some oil could simply be collected from seepage or tar ponds. Historically, we know the tales of eternal fires where oil and gas seeps ignited and burned. Oil and natural gas exploration and production are our core activities. We seek to increase our reserves and develop production to make sure we can meet the increased demand for energy. With technology and the persistence of our employees, we overcome challenges that once seemed impossible, such as the deep waters of the Campos Basin, in the s. Oil & gas industry sectors and players Mission –to find and extract •The Exploration & Production sector involves all operations associated with finding and extracting oil and gas. •E&P sector can be broken out into the exploration and production components. •Timing between the two components can take years (and usually does!). Crude terms.