Is Integrated Oil Companies a Good Career Path?
Last Updated on August 10, 2023
The discovery, extraction, refinement, and distribution of oil and gas resources depend heavily on integrated oil companies. In this article, we will explore the best jobs, the expected compensation, and the outlook of working in the oil industry. We will try to answer the question: Is integrated oil companies a good career path? Find out if the jobs and expectations of the industry fit well with your personality and aspirations.
Table of Contents
What Are the Best Jobs in Integrated Oil Companies
Here are some of the best jobs in the industry.
Petroleum engineers design and implement various techniques to extract oil and gas from reservoirs. They meticulously study the features of the reservoir, appraise drilling and production techniques, and optimize extraction procedures.
To become a petroleum engineer, you need to obtain a Bachelor’s degree in Petroleum Engineering first. Then, you can take the Professional Engineer (PE) licensure examination.
You can also pursue higher education to specialize as an energy engineer in the field of oil and gas extraction. For example, you can take a Master’s degree in Petroleum Engineering, which will provide you with in-depth knowledge and specialization in petroleum engineering principles, reservoir characterization, drilling techniques, and production optimization.
Furthermore, you can also take a Doctorate in Petroleum Engineering if you want to conduct research or pursue academic positions. The program will offer extensive expertise in advanced topics like reservoir simulation, enhanced oil recovery, and sustainable energy solutions.
Refinery operators supervise the procedures that turn crude oil into useful petroleum products. They maintain equipment, control process parameters, and ensure the refinery units run safely and effectively. Although formal education standards might differ, many firms favor applicants with a high school diploma or an equivalent. This is because it takes a lot of on-the-job training to become a refinery operator.
If you want to advance in this profession, you can consider pursuing higher education like a college degree. You can even take a Master’s degree in Industrial Engineering, which will help you learn more about refining operations management, process optimization, and supply chain logistics within the refining industry. This will equip you with the knowledge to oversee refinery processes and effectively ensure safe and efficient operations.
If you want to work on the more business and managerial side, you can also take a Master of Business Administration (MBA) with a Concentration in Energy Management. This degree will teach you business and management principles focusing on the energy sector, which will provide you with a broader understanding of strategic planning, financial management, and leadership skills necessary for refinery management roles.
Geoscientists study Earth chemistry and Earth structures to find oil and gas. They employ surveys, geological data, and cutting-edge technologies to find drilling locations. To become a geoscientist, you need to take a Bachelor’s degree in Geology, Geophysics, or a related field. Then, you can boost your career prospects by taking certifications and becoming a Certified Petroleum Geologist (CPG).
As a geoscientist, you can aim for specialization in finding oil and gas reserves by pursuing advanced education programs such as Master’s degree in Geology or Geophysics. These programs will delve deeper into studying the Earth’s structure and its geological formations as well as teach you more geophysical exploration techniques. They can also enhance your expertise in locating drilling locations and assessing potential reservoirs.
Environmental engineers focus on oil and gas activity control and reduction in integrated oil companies. They plan pollution control, waste management, and environmental compliance.
To enter this profession, you first need a Bachelor’s degree. Then you can take licensure examinations and certifications to validate your expertise and competence in environmental engineering practices. Aim to become a Professional Engineer (PE) and a Certified Environmental Professional (CEP) licenses to boost your job prospects.
You can also pursue further studies and take a Master’s degree in Environmental Engineering. This program will provide you advanced knowledge in pollution control, environmental impact assessment, waste management systems, and regulatory compliance specific to the oil and gas industry.
Supply Chain Analyst
Supply chain analysts oversee the logistics and distribution of oil and gas products for integrated oil firms. They coordinate inventory management, evaluate supply chain data, and improve transportation routes.
To become a supply chain analyst, you typically need to have a Bachelor’s degree in a discipline related to management or logistics. However, some companies do not require that specificity. Large institutions might also prioritize candidates who have certifications such as a Certification in Supply Chain Managemet. Such certifications are industry-recognized and serve as proof that you are proficient in supply chain management principles.
Why You Should Get a Job in Integrated Oil Companies
Integrated oil firms provide several job options. These firms employ professionals who can work in at least one of the following: engineering, operations, supply chain, finance, and even marketing. While there are many work opportunities in this industry, the compensation of the jobs are based on experience, educational attainment, location, and the company itself. However, it is worth noting that integrated oil companies offer competitive salary packages.
Here are some details on the pay scales of integrated oil companies per salary.com’s data.
- Petroleum Engineers. They earn an average salary of $100,904, but the salary range typically falls between $91,527 and $111,256.
- Refinery Operators. Their average annual salary is $61,100, but the range typically is around $55,900 to $65,800.
- Geoscientists. Their average annual salary is $82,558, but their pay can range from $78,699 to $94,120.
These salary ranges are just estimates and might vary based on an employee’s qualifications, employer’s size, and industry demand. Professionals employed by integrated oil corporations can be qualified for bonuses, profit-sharing, and other benefits that significantly increase their overall income.
The integrated oil industry is a major energy actor. Oil and gas demand remains strong while the energy sector transitions to cleaner, more sustainable sources. These integrated oil companies continue to diversify, add products, and invest in new technologies. As such, they offer opportunities for professionals to also continue to contribute to energy transformation. Moreover, those who work for Integrated oil companies can enjoy stability in their jobs as oil and gas products are always needed for society to function.
Working in integrated oil firms will also provide you with a lot of opportunities for career growth. The abilities that you use and the information you obtain while working in the industry are also useful in other fields. For example, you can use your knowledge to transition to jobs that focus on energy management, environmental consultancy, and renewable energy. As such, you can have more career choices and it will be easy for you to shift to another profession should you want to.
Pension and Benefits Packages
Integrated oil firms’ robust pension and benefits packages reflect the industry’s competitiveness and need to attract and retain top people. Pensions and 401(k)s provide long-term financial stability in these bundles. Integrated oil firms also offer employees medical, dental, and vision coverage as well as wellness programs. They also offer life insurance, disability insurance, and employee assistance programs that encourage work-life balance and employee happiness.
Unlocking Your Opportunities
Integrated oil corporations provide diversified work options, attractive pay, and the chance to impact the energy industry. They also offer a handsome pay and a comprehensive benefits package for their employees, which make them an attractive place to work in.
In addition, oil firms employ a wide range of people with various skills from engineers to geoscientists to researchers to refinery managers, and many more. However, working in this industry also provides you with lots of choices. Shifting to another career will be easy as the skills you obtain working for the oil industry are useful in any field.
Surely, getting a job in an oil company is a good career path. The only question is if you would want to take it.