Produced water (PW) is considered as one of the largest waste streams in the petroleum, oil, and gas industry. The drilling and extraction operations aiming to maximize the production of oil may be counterbalanced by the huge production of contaminated water with pollutants, such as heavy metals and organic compounds. This review provides insight into the implementation of different technologies in the petroleum industry for treating PW generated from conventional oilfields in upstream and downstream processes. Scientific efforts in the future can concentrate on developing the most economical and environmentally compliant solutions for the management of untreated PW.