Approximately 283,000 people are employed by oil and gas firms in the UK alone, according to the 2018 Oil and Gas UK Workforce Report, indicating the industry’s global reach. The oil and gas sectors operate in various ways, providing opportunities and benefits to those with the necessary training and qualifications.
This business is still flourishing, with more attention being given now to carbon management and the world’s overall health, despite rumours of a shortage of crude oil and worries about environmental difficulties.
We all prioritize employment factors differently; some people might place more importance on job happiness than compensation, while others prioritize location or travel opportunities. There are many reasons to consider this career path, given the employment chances in this tough industry.
What Makes The Oil And Gas Industry A Good Choice?
The International Energy Agency estimates that the energy sector contributed considerably to the global GDP in 2016, accounting for 2.2%.
If you want to work in the oil and gas business or the larger energy sector, there are several alluring advantages available:
This sector depends heavily on technology; therefore, as you go along the path, you’ll have the chance to receive frequent training using state-of-the-art tools. Your career trajectory will be considerably impacted by keeping your abilities current.
- Skill Acquisition
Specific skills that you might learn in this industry include petroleum economics, managing oil and gas exploration, managing refineries, and managing operations material. However, you’ll also sharpen your analytical, management, and communication abilities.
- High Pay (Salary)
Given the requisite educational background and other criteria, salaries in this field are frequently above average. However, extra incentives will also be used, making remote working locations more desirable to employees. These incentives include large financial bonuses. Although they never start at less than £25k, individual wages vary widely based on experience levels and job-specific talents. Senior or more skilled employees might expect to be paid much more.
- Learning and Development
Careers in the oil and gas industry require constant learning. You can anticipate professional growth in tandem with employment because this industry is dynamic and frequent changes in technology and procedures are the norm.
What Professions Are Available To Those With An MBA In Oil And Gas?
The managerial skills of mid-level to senior-level employees are specifically strengthened through master of business administration programs. An oil and gas-focused MBA is either essential or highly desirable for many professional choices, including:
- Hydrographic Surveyors
Scientists specializing in hydrographic surveying gather data and map the underwater topography of the world’s seas and freshwater lakes. Additionally, they carry out investigations that aid in marine research into ocean currents and the effects of industrialization and climate change on the marine environment.
Engineering geologists conduct technical and scientific analyses of rocks, groundwater, soil, and other elements to determine the potential effects of construction activities on sites.
- Petroleum Engineers
Petroleum engineers focus on the extraction of the resource. They are in charge of analyzing reservoirs to see whether the corporation can exploit them profitably. Their duties also include developing a drilling and extraction strategy that is both efficient and affordable for extracting the necessary resource.
- Mining Engineers
Meanwhile, mining engineers ensure that techniques for creating mines and other operations above and below ground are secure and effective. This profession involves technical understanding and administrative skills to comprehend the effects of mining on the surrounding ecosystem.
Here are the average monthly earnings of various professions in the oil and gas sector:
- A mining engineer can earn between $54,218 and $119,797 per year in pay, according to estimates.
- A hydrographic surveyor is estimated to earn an average annual pay of $49,397.
- Engineering geologists are believed to earn an average pay of $48,487 annually.
- Petroleum engineers are thought to make $96,374 on average yearly.
How to Begin a Career in the Oil and Gas Sector
A career in the energy industry can be very fulfilling on a personal and professional level. It is expanding quickly due to ongoing innovations, so you should keep an eye on the most recent emerging trends.
There are many specialities to pick from because of the industry’s enormous size. Make sure you thoroughly investigate the positions available, the ones that most interest you, and the skills and requirements required to get hired for each one.
Many organizations host networking events, which are excellent opportunities for recent graduates and students to network with industry experts and make contacts they can utilize to advance their careers.