The exploration, production, and environmental biotechnology of petroleum are all topics covered in the Journal of Petroleum & Environmental Biotechnology. Petroleum exploration and production involves extracting hydrocarbons from the earth's underground reservoirs with the aid of several different disciplines, including petroleum geology, drilling, reservoir simulation, reservoir engineering, completions, and oil and gas facilities engineering. Crude oil or natural gas are two of the available forms of the hydrocarbons that were generated. Environmental engineering is a method for integrating science and engineering that can be used to enhance the quality of the environment, including the air, water, and land.

The development and depletion of a reservoir are determined by the combined activities of geologists and petroleum engineers over the course of a hydrocarbon accumulation, and these efforts typically have the greatest influence on field economics. Geophysics, petroleum geology, formation evaluation (well logging), drilling, economics, reservoir simulation, reservoir engineering, well engineering, artificial lift systems, completions, and petroleum production engineering are just a few of the many related fields that petroleum engineers need to be well-versed in.

Oil drilling from the earth's crust is referred to as petroleum engineering. The oil is extracted from the remains of extinct dinosaurs, plants, and fungi. Petroleum engineers find more effective techniques to extract the oil because it is difficult to do so. Petroleum engineering is a major component of many products, including plastics, candles, medicines, cosmetics, and even food. Even more goods are made from petroleum. It literally permeates everything and is present everywhere. Petroleum is crucial to everything we do and plays a significant role in the global economy. Without petroleum, humanity would not be able to live the way they do now.

Petroleum engineering's goal is to evaluate, specify, and put into practise the processes and methods for creating and producing oil, gas, and related products in order to maximise profitability and return on investment. We use the word "optimise" since a return is influenced by factors besides money. This chapter's goal is to provide an overview of the techniques and steps utilised to assess an oil and/or gas property. During evaluation, there are two main steps:

•calculating the quantity of recoverable oil and/or gas and the timeline for recovery

•calculation of the future production's economic value