This book is written to fulfil the space about upstream background concepts and economics. Energy raw materials especially the fossil fuels are the most important parts of energy business value chain. The sustainable energy is the major concern of nowadays nations as civilization is indexed to energy. Fossil and nuclear fuels are the strategic energy raw materials where their supply security is directly related to the countries freedom.This book is created from the perspective of upstream point of view where the energy business value chain starts. The aim of this book is to give insight and valuable knowledge about exploration and production domain where the energy companies are being terrified of the most. They will realize that as they operate in exploration and production area they will earn the major profit as the most profitable area is the upstream part of the energy business value chain.The first two chapters are for those who are researchers and curious intellectuals where they will find the concepts and historical background about oil fossil and nuclear fuels and exploration and production. Besides the investors willing to enter into exploration and production phase will benefit from the last tree chapters in which chances of success risk analysis reserve calculations economic and decision analysis together with portfolio management are given.This book also gives chance to understand the sector as a guidebook where the knowledge is the major and most important asset to retain. Provided that this book is monitored in detail how to handle the complexities in exploration and production will be understood and the investors get to know how to deal with the business. Therewithal if the upstream business is operated according to the concepts given here the success is inevitable.