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Most of the time, individuals who want to advance in life often get to ask questions like “Can Oil & Gas Production be a Good Career Path?”
Although the truth is, the natural oil/gas industry employs a wide range of professionals and offers a variety of career options.
So, yes. Oil & gas production is a good career path.
Hence, working in the oil & gas production industry can be a beneficial career choice because of the high-salary positions.
If you are curious as to why is Oil & Gas Production A Good Career Path. Keep reading, as we give you a more clear understanding of how the oil & gas production industry is a good career path.
It is, however, not difficult to understand why oil & gas production is so important in our lives.
The usage of oil & gas is not just limited to transport, heating, and electricity.
Although apart from being a crucial energy source, these are widely used in pharmaceuticals, fertilizers, solvents, and plastics. The world’s economy and survival depend on the production and consumption of these two commodities.
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What is Oil & Gas Production
Oil & Gas Production is the process of extracting the hydrocarbons and separating the mixture of liquid hydrocarbons, gas, water, and solids, removing the constituents that are non-saleable, and selling the liquid hydrocarbons and gas.
Production sites often handle crude oil from more than one well.
Examples of Oil & Gas Production industries.
- China Petroleum & Chemical Corporation
- 2. China National Petroleum Corp (CNPC)
- 3. PetroChina
- 4. Royal Dutch Shell
- 5. Saudi Arabian Oil
- 6. BP
- 7. Exxon Mobil
- 8. Total
- 9. Chevron Corporation
- 9. Chevron Corporation
- 10. Rosneft Oil Corporation
is Oil & Gas Production a Good Career Path?
Yes, the oil & gas production is a good place to pick a career path.
There are enough jobs there and the demand for workers is very high.
Hence, if you have a love for the sector, it’s time to get your boots ready because you will be getting your feet dirty in the oil soon.
Quit asking, is oil & gas production a good career path? Just go for it!
What do Oil & Gas Production Industries do?
Although, oil & gas are major industries in the energy market and they play an influential role in the global economy as the world’s primary fuel sources.
The processes and systems involved in the production and distributing of oil & gas are highly complex, capital-intensive, and require state-of-the-art technology.
Oil & Gas is crucial to the global economic framework, impacting on everything revolving around transportation to heating & electricity to industrial production & manufacturing.
This article looks at the business of oil & gas and is intended to serve as a research aid to sources worldwide, with a specific emphasis on the United States.
The industry is often divided into three segments:
Upstream
This category is commonly referred to as the exploration and production sector.
This involves companies actively searching for underground and underwater sources of crude oil and gas.
This is done using sophisticated drilling equipment which is used to tap into the sources and draw oil & gas to the surface.
The upstream petroleum industry is associated with the most lucrative merger, acquisition and divestiture deals.
In fact, in 2012, upstream merger and acquisition deals alone accounted for over $254 billion. The industry is largely profitable and attracts investors and funders from across the globe.
Midstream
As expected, the midstream sector is the second of the three petroleum market stages.
This is where the oil and gas transmission takes place. It refers to the transportation of crude or refined petroleum products, usually via pipeline, oil tanker, barge, truck or rail.
The final destination is refineries which will then commence the downstream process.
The midstream sector also includes the storage of these products as well as any wholesale marketing efforts.
Due to its median positioning, the midstream sector can also comprise of upstream and downstream elements.
This could include purifying plants which raw natural gas passes through before entering the refinery.
Downstream
The downstream sector is the final stage of the process and refers to the refining, processing and purifying of crude oil and natural gas.
The sector also encompasses any efforts that are made to market and distribute crude oil & gas related products.
This includes products such as petrol, gasoline, diesel oil, jet fuel, lubricants, heating oil, asphalt, waxes and a plethora of different petrochemicals – some of which may surprise you (Source).
This stage is an important part of the petroleum market and actively turns harvested matter into cold hard cash.
The downstream market also includes hydro desulphurization, a process which sees sulphur-containing compounds found in crude oil converted into gaseous hydrogen sulphide. Natural gas processing plants are also used to remove hydrogen sulphide and sulphur-containing mercaptans from raw natural gas.
The hydrogen sulphide by-product is then converted into elemental sulphur.
Although, the three stages are very different, each plays a critical role in the overall petroleum harvesting process. Together,
They create an incredibly valuable fossil fuel which is used to power the world as we know it.
Although oil & gas has been used for more than 5000 years now but large scale production of it began in 19th century.
Production Equipment
It takes several different processes, each of which is then divided into smaller phases, to produce oil and gas.
The enterprises that make up this sector each play a different part in the upstream, midstream, and downstream phases of the supply chain.
To guarantee an effective process from beginning to end, a sizable amount of oil and gas production equipment is utilized. Some of the basic industry machinery is as follows:
- Tank vessels – storage tanks and gas condensers
- Heat exchangers – shell and tube, plate, regenerative, and adiabatic wheel heat exchangers
- Evaporators – natural/forced circulation, rising/falling film, climbing and a falling-film plate, multiple-effect, and agitated thin film evaporators
- Air coolers
- Towers
- Steel pipes
- Geophysical prospecting equipment
- Drilling and production equipment
- Refinery and chemical equipment
- Logging equipment
- Offshore engineering equipment
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Skills Required for Oil & Gas Production jobs
The oil industry is evolving constantly and what is after 2021 will never be the same as what was before 2021.
The oil & gas industry is changing at a quick pace, and if the industry is growing so fast,
How about you?
Are you also keeping up with the change or still being the same old you with the same strategies that will make your growth stagnant?
Hence, the same old strategies will not bring you effective results in such fast-evolving oil & gas careers.
Feeling stuck? Don’t you worry. we got your back.
We are happy to share with you the top 9 skills that you will require to understand and mitigate the current changes in the oil and gas industry.
This skill set will help you overcome the oil & gas job search challenges arising from the current low-price reality and the bad string of circumstances that might follow in the future.
1. Adaptability:
You’re wondering how adaptability fits in the chain. Well, it turns out that adaptability is considered as one of the most important skills required in the fast-changing oil & gas industry.
Brace yourself! Everyone must understand the importance of this factor, from the employer and stakeholders to the employee, that adaptability is for survival and success in the oil & gas industry.
The changes in this industry are driven by the rapid changes that are taking place in technology, new challenges, and resources associated with it, along with the unexpected events and changes that take place in geopolitics.
Also, the qualities of flexibility and agility is a must in this constantly changing industry.
Furthermore, remember that adaptability is the key to success and survival in your career.
2. Strong Communication Skills:
Communication skills play an important role in our everyday life, especially in this industry.
I am wondering how it will help you in your oil and gas career. Offshore industries, such as oil & gas, require constant communication.
Responsible industry leaders and company owners carefully analyze the information presented to provide workers with a clean, productive atmosphere.
Effective communication in the oil and gas industry is not only necessary but also essential to productivity and success.
This particular skill set is nowhere more relevant than within the gas and oil industry. Didn’t see that one coming.
3. Project Management Skills:
Well, it’s time to put your management skills to the test.
In today’s oil & gas production environment, managing the complexity of major capital projects has never been more essential.
The stakeholders are seeking an increased return on investment, minimized expense and exposure to risk, and greater transparency in the face of a downturn in both global economic conditions and corporate revenues.
Successful businesses develop their project management skills as well as oil and gas-specific skills regularly.
4. Critical Thinking And Problem Solving:
Are you a critical thinker?
Can you solve problems smartly?
As the industry moves toward higher levels of technology and productivity, critical thinking skills and problem-solving abilities are in high demand.
People working in the oil & gas industry must not only be able to find problems, but also be able to fix them through a thinking process that springs up a good level of creativity.
People who can bring solutions to problems on the table are highly regarded.
5. Leadership:
For the oil and gas industry, successful leadership is the most important soft skill.
This industry’s organisations are becoming increasingly engaged in their efforts to continue researching employee growth.
For organisations to successfully handle the downturn in the industry, leadership qualities and skills are a must.
At get global group, we ensure that your leadership skills are specifically brushed upon.
6. Team Player:
Projects, collaborating with cross-functional teams, and performing on schedule and on a budget are all part of the oil and gas industry.
Also, If you’re a team member or a team manager, building a strong team, delegating and sharing responsibilities, and communicating challenges and concerns is essential.
Hence, To cope with the downturn, the upstream and downstream oil and gas industry’s giants have facilitated collaboration among their problem-solving teams.
People who can be accepted into their team and help the company progress would be a valuable asset in the oil & gas careers.
7. Time Management:
Time is money, and it stands absolutely true in the oil & gas industry.
The ability to multitask in a high-pressure setting and prioritise tasks accordingly is a highly valued skill in this industry.
Professionals in the oil & gas industry usually work on several projects at the same time.
Multitaskers, we know! It is important to be able to reach deadlines. By effectively managing your time in the early stages of your career, you can not only gain confidence, but also build trust among your co-workers and management.
8. Global Thinking:
It goes without saying that the oil and gas industry is extremely global.
People who can work in a diverse setting will be welcome in an industry that spans the globe and affects all that surrounds us directly or indirectly.
This is how the industry aspires to be more diverse and inclusive.
9. Conflict Management:
Regardless of where you work, you’re bound to come across some dispute, whether it directly affects you or not.
When it comes to recruiting, many businesses search for people who know how to do it well.
Your ability to assert yourself, come up with innovative ideas and compromises, and look out for the best interests of all parties involved in a dispute is priceless.
So, do we have you covered? Oil & gas workers have a bright future, but they are tough to obtain. It will be reserved for those with advanced technological and managerial skills.
furthermore, we help you with a promising training programme that will make you the perfect pick for your dream job. So, what are you waiting for? To book an appointment with us, call today!
Consequently, acquiring these skills will prepare you for the tasks ahead.
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The 6 Benefits of Working in Oil & Gas Production Industry?
1. Competitive Health Benefits
Oil & gas companies employ a diverse range of employees and these populations consume healthcare differently. Because of this, it’s important for the industry to offer competitive health benefits that meet the needs of all employees.
For this reason, many companies will offer tailored health and medical benefits. Junior employees, for example, can receive a lower and more appropriate level of benefits compared to those in senior positions.
Plus, with so many companies in other industries reducing healthcare benefits costs, those in the oil & gas industry area actually using benefits packages to attract workers and keep them around.
2. Advancement Opportunities
The oil & gas industry offers exciting career opportunities as well as the opportunity for advancement. You can start with a high school diploma in an entry-level job and work your way to the top!
Even though highly experienced professionals will always be in demand in this industry, many workers from the Baby Boomer generation are beginning to retire, leaving many companies desperate to fill job openings.
These companies are often willing to hire students and high school graduates and provide them with training in order to develop their careers.
If you’re committed to excelling, companies are willing to invest in your career growth.
3. Ongoing Learning and Training
Providing ongoing learning and training not only benefits the employees of the oil & gas industry but the companies as well.
Also, Ensuring that employees are trained and learning new skills increases productivity and improves overall performance.
For those working in the oil and gas industry, this is a key factor in retention and career advancement. Companies will want to hang on to those employees they have invested in and help them along their career path.
This means that individuals can begin their careers in entry-level positions and advance through the ranks.
It also means that employees are constantly up-to-date with current safety and health information, reducing risks of accidents and injuries while on the job.
4. Work-Life Balance
One defining aspect of working in the oil and gas industry is the long hours required by workers as well as the time spent away from home.
Oil & gas companies recognize this struggle and will offer flexible working conditions as well as recreational activities and time off.
Not only does this help employees avoid stress and burnout, it also increases overall employee satisfaction and productivity.
5. Travel Opportunities
The oil & gas industry spans the entire globe, meaning that it is highly possible that you could end up traveling to different countries between project locations.
Also, some oil jobs involve working on land while others on rigs on the water, or offshore jobs.
Not only does this mean you can diversify your work environment but also avoid burnout from following the same routine day-in and day-out.
If you’re not interested in jet setting while working for the oil and gas industry, there are many opportunities to travel within your own region from site to site.
Either way, you can still benefit from travel and have the opportunity to see new places around the world!
6. Competitive Salaries
It’s no secret that working in the oil & gas industry pays well. In fact, it is one of the highest-paid industries in the world!
And just as there is an abundance of advancement opportunities, especially for entry-level workers, there is potential to increase your earnings over time.
Technical positions like drilling engineers, pipeline operators, geoscientists and field engineers are in high demand which means the salaries for these jobs are high as well.
Unlike other industries, as the cost of oil rises so too do the salaries of oil and gas employees.
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What are the Top Oil & Gas Production States in the U.S.?
- Texas
- North Dakota
- California
- Oklahoma
- New Mexico
- Colorado
What are the Job Prospects for Oil & Gas Production industry
The oil & gas industry has rebounded strongly throughout 2021, with oil prices reaching their highest levels in six years.
While the industry’s recovery is better than expected, uncertainty remains over market dynamics in the coming year.
Our 2022 outlook explores five trends that will shape the path forward for oil and gas companies (Source).
As we move into 2022, many oil and gas (O&G) companies are looking to reinvent themselves by practicing capital discipline, focusing on financial health, committing to climate change, and transforming business models.
Despite the global energy crisis, energy company stocks are surging—up 50% year to date through late October 2021—on the back of high commodity prices.
Our survey results show that investors expect prices to remain robust. Approximately 70% of respondents expect oil prices to remain above $60 per barrel through 2024
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How Much Can You Make From this Field?
As of Jul 7, 2022, the average annual pay for an Oil Gas Industry in the United States is $76,428 a year.
Just in case you need a simple salary calculator, that works out to be approximately $36.74 an hour. This is the equivalent of $1,470/week or $6,369/month.
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7 Best Paying Jobs in Oil & Gas Production Industry for Graduates
1. Project Manager
Average Annual Salary: $197,000
This is one of the best paying jobs in natural gas distribution. This employee is in charge of projects and ensures that they go according to specifications.
In overseeing projects, he makes sure the project is on track and works with the budget while being conscious of safety practices
2. Drilling Supervisor
Average Annual Salary: $186,000
This employee handles the drill operation. Therefore, he ensures that his teammates complete the project on time. Similarly, he also oversees operations on site
3. Reservoir Engineer
Average Annual Salary: $172,000
These employees are also referred to as Pipeline or Petroleum Engineer. Moreover, this set of people optimizes the movement of crude oil extracts.
In other words, they carry out tasks such as identification and evaluation of the oil and gas reserves. Furthermore, they do this with the use of certain equipment, as well as monitoring the drilling procedure.
4. Natural Gas Engineer
Average Annual Salary: $154,000
also, these people are in charge of developing, installing, and maintaining the equipment as needed to process the oil and gas.
Also, they ensure reliability, sustainability, quality, and safety.
5. HSE Manager
Average Annual Salary: $158,000
Generally, Health, Safety, and Environment Managers ensure petroleum gas’s occupational health, safety, and environmental operation in their onshore and offshore sites.
Additionally, HSE Managers plan managerial safety policies, inquire into work environment incidents, and coordinate training schedules.
7. Project Engineer
Average Annual Salary: $114,000
These employees always make sure that procedures such as design, construction, and every other thing are done safely. Nevertheless, he carries out these tasks while working alongside the budget.
Furthermore, they review reports and also effect changes in construction and communicate all of it to the stakeholders.
New Technologies Used
The oil and gas business has seen the advantages that employing new technologies may provide to assure efficiency and preserve safety in production, in addition to machinery. Among these cutting-edge technologies are the following:
- Artificial intelligence – helps oil and gas companies to survey facilities, assess the value of reservoirs, monitor machine conditions, customize drilling, and complete other plans that would otherwise take time if performed manually.
- Big data analytics – it enables companies to collect and analyze data for an informed and well-grounded decision-making.
- Internet of things – also known as IoT, allows companies to use various sensors that are essential in managing operations efficiently. Electronic monitoring (part of IoT), also promotes better field communication and allows real-time data and monitoring of pipes, storage, transportation, and machinery.
- Drones – offers high-level visibility of wells, storage areas, and facilities which speeds up daily evaluations and ensures assessment accuracy.
To sum up, understanding the procedures used in oil and gas production and incorporating new technologies can help lower operational and maintenance costs, decrease the likelihood of incidents, increase workplace safety, and provide fresh perspectives on the sector that can be used to further streamline procedures and ensure greater efficiency.
Understanding Oil Production Numbers
E&P organizations use barrels to gauge oil output. The standard abbreviation for a barrel is bbl, which stands for 42 US gallons.
Bbl per day or bbl per quarter are common units used by businesses to represent production.
Using a prefix of “M” to denote 1,000 and a prefix of “MM” to denote 1 million is a standard practice in the oil field.
As a result, 1,000 barrels are frequently represented as Mbbl and a million as MMbbl.
For instance, seven Mbbl per day, or 7,000 barrels of oil per day, is what an E&P business reports as production.
However, many publicly traded firms are engaged in well-servicing activities, much like with drilling.
The degree of activity in the oil and gas sector affects the income of service businesses.
The quantity of activity taking place in the United States at any particular moment is indicated by the number of rigs and utilization rates.
Understanding Gas Production Numbers
Production of natural gas is measured in cubic feet. Similar to how we refer to oil, Mmcf stands for one million cubic feet of gas. Tcf stands for one trillion cubic feet, whereas Bcf stands for one billion cubic feet.
Although they are not sized in cubic feet, natural gas futures are traded on the CME Group futures exchange.
Rather, the basis for the futures contract is 1 million British thermal units, or MMBtu, which is roughly comparable to 970 cubic feet of gas.
E&P organizations commonly use barrels of oil equivalent to measure production (BOE).
The majority of the time, companies translate gas production into oil equivalent production to compute BOE.
According to this estimate, one BOE is equal to about one barrel of oil to six million cubic feet of gas (Mcf).
Similar conversions may be made for oil and gas quantities, and gas producers frequently speak of output in terms of Mcfe units, which are equal to units of gas.
E&P businesses report their oil and natural gas reserves—the amount of oil and gas they possess that is still in the ground—in the same bbl and mcf units.
Reserves are frequently used to appraise E&P firms and forecast future revenue and profitability. Public oil and gas firms are obligated to publish proved oil and gas reserve numbers as additional information, but not as part of their financial statements.
Of course, fresh reserves are an important source of future revenue, so E&P businesses invest a lot of time and money searching for new unexplored reservoirs.
If an E&P business ceases investigating, it will have only a limited number of reserves and a diminishing oil and gas supply. Revenue will undoubtedly diminish over time. In
Conclusion
The best career path for Oil & Gas Production depends on individual interests, skills, and experience.
However, the best way to find out if a career in Oil & Gas Production is right for you is to explore your options and see what opportunities are available to you.
Also, if you are looking forward to pursuing a career in Oil & Gas Production industry or you are just curious about the industry, this blog post is for you.
This Article answer’s your question, Is Oil & Gas Production A Good Career Path?.
Oil & gas sector comprise three main activities – upstream (exploration and production), midstream (transportation and processing1) and downstream (distribution and sale to end users/consumers).
FAQs
What are the business activities of an oil & gas industry?
Oil & gas sector comprise three main activities – upstream (exploration and production), midstream (transportation and processing1) and downstream (distribution and sale to end users/consumers).
What sector is oil in?
The Oil & Gas sector includes the oil and gas extraction industry as well as petroleum refining.
The United States is the world’s third-largest petroleum producer, with more than 500,000 producing wells and approximately 4,000 oil and natural gas platforms operating in U.S. waters.
What is offshore and onshore in oil & gas?
Onshore oil fields refers to the stock of oil existing beneath the layers of the earth.
Offshore oil fields are located the seabed. One major difference for offshore drilling is the need for stability.
What is oil & gas industry overview?
It consists of processes and operations that involve searching for potential underground or underwater crude oil and natural gas fields, drilling exploratory wells, and subsequently drilling and operating the wells that recover and bring the crude oil and/or raw natural gas to the surface.
What are the 3 types of energy?
Kinetic, potential, and chemical energy.
What’s the difference between natural gas & oil?
Crude oil and natural gas are fossil fuels that are used for heating.
1. Crude oil or petroleum consists of hydrocarbons and other organic compounds
2. natural gas consists mostly of methane and hydrocarbons or ethane.
FAQs
What are the business activities of an oil & gas industry?
Oil & gas sector comprise three main activities – upstream (exploration and production), midstream (transportation and processing1) and downstream (distribution and sale to end users/consumers).
What sector is oil in?
The Oil & Gas sector includes the oil and gas extraction industry as well as petroleum refining.
The United States is the world’s third-largest petroleum producer, with more than 500,000 producing wells and approximately 4,000 oil and natural gas platforms operating in U.S. waters.
What is offshore and onshore in oil & gas?
Onshore oil fields refers to the stock of oil existing beneath the layers of the earth.
Offshore oil fields are located the seabed. One major difference for offshore drilling is the need for stability.
What is oil & gas industry overview?
It is consisted of processes and operations that involve searching for potential underground or underwater crude oil and natural gas fields, drilling of exploratory wells, and subsequently drilling and operating the wells that recover and bring the crude oil and/or raw natural gas to the surface.
What are the 3 types of energy?
Kinetic, potential, and chemical energy.
What's the difference between natural gas & oil?
Crude oil and natural gas are fossil fuels that are used for heating.
1. Crude oil or petroleum consists of hydrocarbons and other organic compounds
2. natural gas consists mostly of methane and hydrocarbons or ethane.
References
- getglobalgroup.com– Top Skills Requirements In The Oil And Gas Industry
- linkedin.com – The Importance of Oil and Gas in today’s economy
- ziprecruiter.com – Oil Gas Industry Salary
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