The global oil and gas exploration and production industry is one of the most profitable sectors on the globe, with a massive valuation of $5 trillion as of 2022. It’s no surprise that employment in this area continue to draw a number of ambitious individuals looking for appealing compensation and work stability – the highest incomes can reach up to $257,000 per year, according to ZipRecruiter.
Our Top 7 Picks for the Best Paying Jobs in Oil & Gas Production
- Petroleum engineer
- Petroleum geologist
- Project manager
- Chemical engineer
- Drilling consultant
- Gas plant operator
- Environment manager
A petroleum engineer is one of the highest-paying oil and gas vocations. Their primary task is to develop efficient, cost-effective techniques for extracting oil and gas from the ground. Every day provides new problems, as petroleum engineers are frequently required to devise inventive solutions under time constraints.
Working with complicated technology and specialised equipment, petroleum engineers guarantee that the entire oil extraction process is done safely and in accordance with applicable standards. They are also in charge of planning and performing research to improve the extraction process or lower expenses.
According to the Bureau of Labour Statistics, the average annual pay for a petroleum engineer in the United States in 2021 was $130,850. As a result, it is one of the most profitable oil sector occupations accessible today.
Petroleum geology is a highly specialised branch of the oil and gas industry. Petroleum geologists use complex technology and software to locate oil and gas deposits beneath the ground, analyse them, and forecast how much oil or gas can be removed safely.
These individuals analyse data from seismic surveys, core samples, and well logs to generate oil and gas drilling plans on any given day. They also provide studies on the expected costs of exploration or oil extraction projects and offer advise to oil engineers and other project specialists.
Geologists in the oil and gas industry earn an average of $100,450 a year. If 2022’s robust balance sheets are any indication, the oil and gas business will grow in the foreseeable future. A job as a petroleum geologist can be financially profitable as well as personally fulfilling.
Project managers are in charge of monitoring oil projects from beginning to end. This includes identifying project objectives, creating plans, and allocating resources. They also ensure that the project is completed on time and under budget, as well as in accordance with all applicable regulations.
Project managers in the oil industry work with engineers and technicians to ensure a smooth operation. The function of a project manager in the oil and gas business has become even more vital as technology has advanced.
In the United States, project management experts earn an average salary of $151,750. This statistic is subject to change based on experience, geographical location, and other factors.
A chemical engineer’s principal task is to design processes for refining crude oil into products such as petrol and kerosene. They also create chemical products utilised in the exploration and production of oil and gas.
Chemical engineers are in charge of daily laboratory data analysis in order to build viable oil and gas refining processes. They must also experiment, calculate outcomes, and make suggestions on how to maximise efficiency while ensuring safe practises. As a result, chemical engineers must stay informed and up to date on innovations in their field.
Chemical engineers are in high demand in the oil and gas business, and their pay reflect this. Chemical engineers earned an average of $167,120 per year in 2021.
Drilling consultants are oil and gas industry experts who review seismic surveys, core samples, and other data sources meticulously in order to identify places with potential oil and gas deposits. Their knowledge base and skill set are critical for successfully completing drilling operations while preserving safety throughout the process.
Drilling consultants help oil corporations make informed decisions about drilling sites, create safety measures, and provide technical support. Their success is dependent on their ability to think critically and fast, as well as their knowledge of the sector they serve.
In the United States, the average compensation for a drilling consultant is $78,670.
Gas plant operator
Gas plant operators are in charge of monitoring and controlling gas plant operations. To ensure safety, efficiency, and precision, they must precisely read gauges, adjust valves, and run machines. They also assess oil and gas pipelines for leaks and other problems that could disrupt output.
On a daily basis, gas plant operators collaborate with other oil industry experts to ensure that all activities function properly. They must be able to make quick and precise judgements while also being familiar with the essential safety protocols.
In the United States, gas plant operators earn an average of $70,720 a year.
Oil drilling and extraction pose significant environmental dangers. As climate change has become a fact, oil extraction practises have come under growing scrutiny in recent years. As a result, oil and gas businesses have been on the lookout for environmental managers to assist in risk reduction and compliance with environmental requirements.
Environmental managers are in charge of examining how oil and gas exploration and extraction affect the environment, as well as doing research to create techniques for mitigating that impact. These individuals are responsible for assuring the safety of oil and gas activities by actively reviewing plans and procedures, inspecting pipelines for leaks, identifying potential environmental concerns, and offering methods to mitigate them.
In 2021, the average yearly compensation for an environment manager in the United States was $137,600.
Best Paying Jobs in Oil & Gas Production Guide
A massive industry like oil and gas production often compensates experts with competitive wages and benefits packages. Even entry-level oil field employment can generate incomes that are unrivalled by more sophisticated jobs in other industries. However, in order to actually advance and obtain higher-paying oil and gas production jobs, a thorough understanding of the sector is required.
What is the oil and gas production industry?
The oil and gas sector is in charge of extracting crude oil, natural gas, and other petroleum products. This entails drilling wells and employing advanced technologies to harvest items from under the earth’s surface. As the demand for these resources grows, this is an integral component of modern living. Today, the globe consumes more than 88 million barrels of oil every day.
Types of oil and gas production jobs
Many oil and gas jobs fall into one of three categories: drilling, completion, and production. Drilling jobs entail operating heavy machinery to dig wells for oil and natural gas. Completion roles include installing the wellhead equipment so that the oil or gas may be extracted appropriately. Finally, production tasks involve monitoring natural resource production and ensuring that it is done safely and efficiently.
Requirements for an oil and gas production job
Given the numerous oil and gas production occupations available, each role has unique qualifications. Some positions in the oil industry require a degree in engineering or a related subject. Completing an oil rig training programme is required for anyone interested in oil rig work. Some oil and gas production positions may require specialised qualifications from the Occupational Safety and Health Administration (OSHA). Other occupations may not require formal education but may require extensive experience or skill sets. Examine appropriate job search websites to identify the qualifications for each position.
How to find the highest-paying jobs in oil and gas production
The salary for an oil and gas production job varies substantially depending on numerous criteria, including experience level, location, and position complexity. There are, however, some things you can do to improve your chances of securing higher-paying positions in the field.
Research the industry
Make sure to stay current on industry developments, technologies, and laws. As part of your investigation, find out how much a position pays. This way, you can ensure that you’re making the best career decisions. Consider taking specific classes or attending seminars relating to your desired profession. Finding ways to network with industry leaders can give you with invaluable advice and insight into future job prospects.
Gain qualifications and certifications
As previously said, many oil field professions necessitate specialised qualifications or OSHA certificates. If you want to maximise your earning potential, take the effort to obtain these qualifications.
Choose your location wisely
Consider moving to a higher-paying area if you’re seeking for a higher-paying job. You may look into oil and gas production job salaries in different towns or regions to see where the best pay is for offshore oil rig positions, for example.
Polish your resume
If you haven’t updated your resume in a while, now is the moment. Make certain that your CV includes all of the qualifications and experience required for a high-paying oil and gas production position. This is also a good opportunity to review how to compose a cover letter for a job.
Browse job sites
Resources such as ZipRecruiter can help you find oil and gas production jobs that match your qualifications. Highlight the roles that pay the most and make a note of any firms or organisations you’d like to work with. Apply as soon as you’ve spotted a few positions that interest you. To maximise your chances of being considered, tailor your CV and cover letter to each unique post.
Get professional help
Consider dealing with a recruitment firm if you’re having problems finding the right job or getting interviews. Recruiters understand the oil and gas production business and are masters at matching professionals with appropriate roles. With the appropriate recruiter, you might even be able to secure oil rig employment with no experience.
You could also consult with a career counsellor. They can assist you with everything from training you how to prepare for an interview to advising you on how to negotiate the greatest wage. If you’re leaving your current job for a new one, your prospective employers will most certainly want to know why. A career specialist can assist you in preparing for such an event.
They understand which reasons for quitting a job are most compelling to recruiters and may assist you in answering this question effectively.
You can increase your earning potential and acquire a higher-paying oil and gas production job with the assistance of a professional.
How We Chose the Best-Paying Jobs in Oil & Gas Production
We used median pay data from the U.S. Bureau of Labour Statistics and other credible government or research sources to compile our list of the best oil and gas production jobs. We also looked into employment growth forecasts, educational requirements, job availability, safety standards, and other aspects that can affect income potential.
What is the highest salary in oil and gas industry?
The highest-paying job at Oil And Gas Construction is a Piping Supervisor with a salary of ₹9.7 Lakhs per year. The top 10% of employees earn more than ₹15 lakhs per year. The top 1% earn more than a whopping ₹26.40 lakhs per year. What is the minimum salary in Oil And Gas Construction?
Is oil and gas a good career path?
Oil and gas offers great money and currently has good job prospects, meaning a stable working environment. A shortage of qualified workers means skilled people are in high demand.
What is the basic salary in oil and gas industry?
The average oil gas salary in India is ₹ 825,000 per year or ₹ 331 per hour. Entry-level positions start at ₹ 356,250 per year, while most experienced workers make up to ₹ 2,500,000 per year.
What is the highest salary of Indian Oil?
The highest-paying job at Indian Oil Corporation is a Executive Director with a salary of ₹74.1 Lakhs per year. The top 10% of employees earn more than ₹22.89 lakhs per year. The top 1% earn more than a whopping ₹50.48 lakhs per year.
Which country is best for oil and gas jobs?
The hottest spot for oil & gas workers is Australia, where the global supermajors like Chevron and Shell are in the process of building more than $150 billion worth of projects to export liquefied natural gas.
What is the lowest paying job on an oil rig?
Stewards have the lowest paying job on the oil rig.