This chapter starts with an overview of portfolio and program management in the oil and gas industry. To completely cover the project management in the oil and gas industry, Project Management Body of Knowledge from Project Management Institute has been adopted. This project management standard covers the entire project management in 10 main knowledge areas: integration, scope, schedule, cost, quality, resource, communication, risk, procurement, and stakeholder management. Following the portfolio and program management overview section of this chapter, oil and gas project practices in all the knowledge mentioned above areas are investigated, and best practices are mentioned.