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This document describes the concept of production assurance within the assets and operations associated with exploration drilling, exploitation, processing and transport of petroleum, petrochemical and natural gas resources. This document covers assets and associated activities for upstream, midstream, downstream and petrochemical business categories. It focuses on production assurance of oil and gas production, processing and associated activities and covers the analysis of reliability and maintenance of the components. This includes a variety of business categories and associated systems/equipment in the oil and gas value chain. Production assurance addresses not only hydrocarbon production, but also associated activities such as drilling, pipeline installation and subsea intervention. This document also supports production assurance and reliability management for lower carbon energy assets and associated operations, e.g., carbon capture and storage (CCS), hydrogen, ammonia, and wind energy. This document provides processes and activities, requirements and guidelines for systematic management, effective planning, execution and use of production assurance and reliability technology. This is to achieve cost-effective solutions over the life cycle of an asset development project structured around the following main elements: The IEC 60300-3 series addresses equipment reliability and maintenance performance in general. This document designates 12 processes, of which seven are defined as core production assurance processes and addressed in this document. The remaining five processes are denoted as interacting processes and are outside the scope of this document. The interaction of the core production assurance processes with these interacting processes, however, is within the scope of this document as the information flow to and from these latter processes is required to ensure that production assurance requirements can be fulfilled. This document specifies how to establish and execute the production assurance programme (PAP) and/or a reliability management programme (RMP). It is important to reflect the PAP and/or RMP in the overall project management in the project for which they apply. The PAP is generally used for an entire asset or a project by an operator. The RMP typically applies for a contractor or a vendor/manufacturer/supplier for their scope of work in a project. See Annex A for further guidance for preparing PAP and/or RMP. This document also recommends that the listed processes and activities be initiated only if they can be considered to add value for the stakeholder (e.g. operator), but the selected process can depend on their business strategy and application area.