According to the Oil and Gas UK Workforce Report of 2018, oil and gas companies support approximately 283,000 jobs in the UK alone, hinting at the global scale of this sector. The industries of oil and gas is diverse in the way it works, offering various opportunities and perks to those with the specific educational standards and professional skills required.
Despite a rumoured crude oil shortage, and concerns raised about environmental issues, this industry is still going strong, with greater consideration now being paid to carbon management and the greater health of the planet.
We all prioritise the aspects of a job differently; some may value satisfaction over money, whilst others put location or travel possibilities first. Employment opportunities within this demanding field come with plenty of reasons to give this career path consideration.
Why should you choose the oil and gas industry?
The energy sector is a massive contributor to world GDP, and accounted for 2.2% of the total for the year 2016, according to International Energy Agency.
If you are planning to embark on a career in the oil and gas industry, or the wider energy sector, this industry offers a number of enticing benefits.
Salaries for this sector are typically higher than average, and this is due to several factors, such as the educational background required. However other incentives, such as lucrative financial bonuses, will also come into play and make potentially remote working locations more attractive to workers. Individual salaries vary depending very much on experience levels and role-specific skills, though seldom start below £25k. Those in senior, or more skilled positions can command significantly higher pay.
Technology is integral to this industry, and as you progress along this path you will have opportunities to be trained regularly with cutting-edge equipment. Ensuring your skills are kept up to speed will contribute greatly to your career trajectory.
Travel possibilities are common, due to the global demand for these resources. The growing need for skilled professionals means this career choice gives you real geographic versatility – especially if you work off-shore!
Learning takes place at a continual rate in oil and gas careers. This sector is constantly evolving, and advancements in technology and practices are common, meaning you can expect to professionally develop alongside working.
Skills you can develop in this industry may be very specific, such as petroleum economics, oil and gas exploration management, refinery management, and operations material management. However you will also broaden your analytical, communication, and management abilities.
What are the career options with an MBA in oil and gas?
Master of Business Administration programmes are specially designed to strengthen mid to senior level managerial skills. There are a number of career options for which an oil and gas focused MBA will be either necessary or highly desired, such as:
Engineering Geologists, who undertake technical and scientific analysis of rocks, groundwater, soil, and other factors to decide what impacts construction developments might have on sites.
Mining Engineers, meanwhile, ensure that methods used for developing mines, and other operations both above and below ground are safe and efficient. In addition to managerial skill, this position requires the technical aptitude to understand the impact of mining on the surrounding environment.
Hydrographic Surveyors collect scientific data and map the underwater topography of oceans and inland water bodies. They also conduct studies that facilitate marine research into ocean currents and the impact of climate change and industrialisation on the marine environment.
Petroleum Engineer - and equivalent positions - revolve around the production of the resource. They are responsible for analysing reservoirs to determine whether it can be profitably exploited by the company. Additionally, their responsibilities include drawing out a cost-effective drilling and extraction plan to pump out the relevant resource.
How to start your career in the oil and gas industry
A career in the energy sector can be extremely rewarding, both personally and professionally. Continual developments mean it is growing at a rapid pace, and because of this, you should keep an eye on the latest trends emerging.
Due to the sheer scale of the industry, there are multiple disciplines to choose from. Be sure to do your research fully, in order to understand what roles are available, which ones interest you the most, and what skills and qualifications you need to land that position.
Many companies organise networking events, which are a great way for students and graduates to meet with professionals in the field, and establish useful contacts with which to move forward.
If you believe the oil and gas industry offers you a position from which to build your career, then take a look at the Global MBA (Oil, Gas, and Energy Management), and give your career a fuel boost.