Saturday, January 28, 2023

The 10 Highest Paying Oil & Gas Jobs

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To remain competitive after the shale boom binge, the U.S best paying jobs in oil & gas production energy business may be significantly cutting costs and slimming down, but when it comes to employment prospects, oil & gas occupations are among the most lucrative ones available.

The number of jobs is increasing at the same rate as U.S. oil and gas output.

The Energy Information Administration reports that US oil output climbed from 11.7 million bpd at the beginning of 2019 to 12.6 million at the end of October (EIA). The overall US production of natural gas increased from 91.3 Bcf/d at this time last year to 99.1 Bcf/d at the end of October, 95 Bcf/d of which is dry natural gas.

These advancements have led to an increase in employment in the oil and gas sector.

Oil and Gas Jobs in the US

According to the US Energy and Employment Report 2019, the traditional energy and energy efficiency sectors in the United States employed 6.7 million people in 2018. Of those, nearly 1.5 million worked directly in the oil and gas industry, and another 1.2 million were employed in the power generation sector, which includes all forms of power generation, including oil and gas.

You won’t need to look very far if you’re seeking for oil and gas employment to make some money. ExxonMobil, Phillips66, and Anadarko, all of whom have their headquarters in Texas, have all been more than eager to make the financial commitment. The oil business is having a terrible issue finding a trained staff.

According to a Wall Street Journal research, ExxonMobil’s median salary was $171,375. The average salary at Phillips66 was $196,407, as per a Wall Street Journal survey.

That’s extremely lavish when compared to the $77,324 median salary for advanced degree holders across America. What, however, are the top oil and gas jobs?

Best Oil and Gas Jobs

While not everything, pay certainly contributes. And if you can’t win over employees with your environmentally friendly practises or excellent corporate responsibility, you better be willing to spend the money. So what professions are oil and gas businesses investing the most money in as they look to hire talented individuals?

Based on workers with six years of experience in the oil and gas sector, the Global Talent Energy Index was used to create the following list of annual salaries:

Production Engineer

 rank ten, $125,600. Production engineers are in charge of developing and choosing well equipment to get it to the production stage after drilling. They often hold degrees in petroleum engineering. Additionally, they keep an eye on the well while it is producing to make sure it is effective and remains profitable.

 Project Engineer

Project engineers make ensuring that significant maintenance, building, and design projects are finished safely and on time. They examine construction change requests and progress reports, as well as track and update stakeholders on project advancement.

HSE Manager. 

Managers of health, safety, and the environment create and carry out organisational safety programmes. They carry out risk analyses, maintain HSE policies current, and develop preventative actions. A BA in environmental science, safety management, or occupational health is required.

Mechanical Engineer,

With an emphasis on safety, dependability, quality, and sustainability, mechanical engineers support plant equipment and design, develop, install, and maintain equipment used for processing oil and gas.

Geophysicist

To ascertain what is beneath the earth’s surface, geophysicists investigate the physical properties of the planet.

Drilling Engineer No. 5: $129,944. In addition to managing the rig crew, this job oversees the technical and financial aspects of oil and gas drilling operations as well as the assessment and maintenance of wells and the implementation of safety measures.

Engineer for Reservoir

When looking for petroleum in subsurface reservoirs, reservoir engineers rely on their knowledge of fluid mechanics and geology. They estimate the subterranean petroleum reserves as well. Most of the time, they are petroleum engineers.

$335,000 for a construction manager. Construction managers are in charge of completing projects on time and in accordance with HSE regulations. In order to lead teams and manage and supervise construction projects, they collaborate closely with the project manager.

Drilling Supervisor. 

The drilling operations are overseen by drilling supervisors, who also ensure that drilling is finished on schedule. Drilling supervisors frequently do not require a bachelor’s degree, in contrast to the majority of other top positions in the oil and gas business. But typically, years of experience are needed. Mechanical engineering or drilling technology degrees are preferred by some employers.

Project Manager

Project Manager is the highest paying position in the oil and gas sector, which is not surprising. The PM is responsible for making sure that a project is completed on schedule, within budget, according to specifications, and in accordance with safety regulations. The PM also makes sure that groups are communicating with one another. In essence, the PM serves as the binding agent that keeps the entire organisation together, and businesses are eager to pay top dollar for the best.

Top Paying Jobs in Petrochemicals

Though it doesn’t receive as much attention as the oil and gas sector, petrochemicals are thought to be that sector’s future. Petrochemical occupations are quite lucrative, albeit the pay is not quite as high as traditional oil & gas jobs.

Process Engineers have the highest average annual salary in the petrochemicals industry, coming in at $123,400 for a six-year veteran. The #2 position is held by a Quality Assurance Manager, who earns $122,190 year. Construction manager, ranked third in the petrochemicals industry, earns $117,856 annually, mechanical engineer, ranked fourth at $111,630, and chemical engineer, ranked fifth at $98,636.

Leading Positions in the Renewables Sector

The jobs in the renewables sector appeal to the millennial population, which is something the other energy-related industries do not. As a result, they frequently find it simpler to recruit job candidates with dreamy eyes who aspire to be model citizens.

They should be happy with their jobs because, on average, they will make less money.

Construction Manager earns the most in the renewable energy industry, at $118,730 per year. The HSE Manager, at $102,997, is in second place, followed by the Mechanical Engineer, at $92,822.

High-Paying Positions in the Nuclear Industry

Although the United States produces more than 30% of the world’s nuclear electricity, despite the fact that we hear a lot about oil and gas, the US is also the world’s greatest producer of nuclear power.

Nuclear energy generates around 20% of the nation’s total electrical output, and despite a nearly 30-year decline in new construction, two new nuclear reactors are now under construction. The US has 98 operational nuclear power reactors, which are dispersed over 30 states.

you can read our other blogs like what do public utilities jobs pay.

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