The best-paying jobs in the oil and gas production industry are usually those occupied by top positions and key personnel. The oil and gas industry is a significant economic driver, accounting for over 10 percent of all U.S. jobs. It’s also one of the most dangerous industries to work in, with injuries ranging from minor cuts and burns to life-threatening injuries or fatalities. However, it is enriching and exciting.
Regardless of the potential casualties that the industry poses, many top graduates, engineers, and people from all fields of study still prefer to work in this industry due to its high and lucrative salaries. This article will look at the highest-paying jobs in oil and gas production, opportunities in the oil and gas industry, and qualifications to get into the industry.
10 (Highest) Best Paying Jobs in Oil And Gas Production
Below are some of the best-paying jobs in the oil and gas production industries that anyone can venture into and earn good salaries.
1. Drilling Supervisor
When you work as a drilling supervisor, you are perceived to have a vast knowledge of the oil and gas industries and know a lot about every aspect of the industry.
This job requires you to take full responsibility for all aspects of drilling operations, including production and safety. The average salary for this position is $160,000 per year, ranging from $100,000 to $350,000 per year.
This job role also comes with a lot of responsibilities such as being responsible for other engineers such as the operators, engineers, etc.
Annual median salary: $160,000
2. Reservoir Engineer
A Reservoir engineer is one of the highest and best paying jobs in oil and gas production industries. This profession earns anywhere around $146,091 per year and can earn more than $250,000 per year depending on experience, qualification, and the company you are working with.
A reservoir engineer is responsible for designing, building, and operating wells that produce oil or gas. These engineers also use their expertise to determine how much hydrocarbon is available in an underground reservoir. They also develop plans to extract it from the ground as efficiently as possible.
Annual median salary: $146,091
3. Chief Financial Officer (CFO)
Chief financial officers are also some of the highest-paying jobs in the oil and gas production industries. They earn around $130,000 – $280,000 annually, depending on their company, experience, and qualification.
The CFO ensures the company has enough cash flow and funds to meet its obligations. They also ensure that the company’s assets are appropriately managed and protected from liability or legal action against them. You must have a background in accounting or financial management and years of relevant experience before attaining this position.
Annual median salary: $130,000
4. Petroleum Engineer
Petroleum engineers are some of the highest and best paying jobs in the oil and gas production industry. These positions are occupied by experts who study engineering in higher institutions.
Petroleum engineers are responsible for finding new ways to extract oil and natural gas from underground sources. They also work on improving current extraction methods. They must understand complex geology, fluid mechanics, mathematics, and engineering principles like physics, chemistry, and mechanics.
They design processes to recover natural resources, including drilling wells and pipelines, manage production facilities, perform safety checks on equipment, supervise maintenance operations, and develop new technologies for exploration or extraction processes.
In addition to this, they work on developing new methods for drilling and production processes. This high-paying job requires a degree from an accredited university and several years of experience working in the field.
Annual median salary: $120,850
5. Mechanical Engineer
To start a career as a mechanical engineer, one just needs to acquire a first degree in a reputable university offering the course. This profession is very profitable and one of the best-paying in the oil and gas production industry, with an annual median salary of about $114,660.
Mechanical engineers design products such as engines and machines that work using moving parts. They use math, science, and engineering principles to create prototypes of their designs, test them for safety and efficiency, and then refine them until they work correctly.
They oversee the creation, maintenance, and repair of the complex tools and machines used in sites and refineries.
Annual median salary: $114,660
6. Civil Engineer
If you are looking for a career in this field, a civil engineer is a good one to give a go. Civil engineers plan how buildings are built, roads, bridges, and tunnels. They use computer modeling software to design structures that withstand earthquakes or other natural disasters.
Civil engineers also do surveying work on construction sites so that materials can be delivered safely with minimal disruption or delay to traffic or pedestrians.
Annual median salary: $113,840
7. Geophysicist
Geophysicists are the 5th best-paying jobs in oil and gas production on our list today. They earn a sizeable income of about $103,920 annually.
Geophysicists use seismic tests to help determine if there are any reservoirs containing oil or natural gas beneath the surface of the earth where they will be able to drill down and extract it using drilling techniques like fracking or horizontal drilling techniques that allow operators to access previously unreachable reserves of oil and natural gas deep within shale deposits or other hard-to-reach.
Annual median salary: $103,920
8. Geologists
Geologists also earn a good amount of money, making it one of the highest-paying jobs in the oil and gas production industries. Geologists study the earth’s natural resources, including minerals and fossil fuels like oil and natural gas.
Their goal is to find out where these resources can be found so that companies can drill for them or extract them from the ground without destroying ecosystems or harming nearby people.
In addition to studying physical features, geologists must also know how people interact with their environment so they can design ways to protect both people and nature when drilling occurs.
Annual median salary: $92,040
9. Crane Operator
Crane operators are one of the rare professions in oil and gas production but also a high in demand job in the industry.
As a crane operator, you will be responsible for operating various types of cranes, such as tower cranes, mobile cranes, and gantry cranes. The main responsibilities include operating cranes safely and efficiently to load, unload, or move materials from one place to another.
Crane operators also ensure that equipment works properly by checking for any damages or malfunctions before operating them. As this is an entry-level job, most operators start with an hourly wage between $12-$20 per hour, depending on their experience level and skillsets.
However, if you have been working for some time now, you can expect an hourly wage between $18-$23 per hour, depending on how long you have been in the field.
Annual median salary: $65,000
10. Geoscientist
Geoscientists study the earth’s physical structure and composition, which helps them understand how different formations can be used to extract oil or gas from deep beneath the earth’s surface. They work closely with geologists to gather data about geological formations that could contain hydrocarbons such as oil or natural gas.
Annual median salary: $83,680
Opportunities In The Oil And Gas Industry
If you want to become a part of this exciting industry, many opportunities are available. You can become an engineer, an environmental scientist, or a geologist. This means there are lots of different jobs within the industry to choose from.
The oil and gas industry is also expanding rapidly, so there are plenty of opportunities for those who have just left college or university and are looking for work. There are also many jobs available for those with experience and new entrants into the workforce who want to make a career change in this exciting industry.
Most jobs in this industry are located on drilling rigs or at refineries or manufacturing plants near large cities. Some positions require travel to remote locations for exploration or drilling activities. Employees may be required to work long hours during peak production periods and will receive overtime pay if necessary.
Qualifications to Get into the Oil and Gas Industry
The following is a list of qualifications for an oil and gas job:
- Education: Most employers prefer that you have a bachelor’s degree or higher, with a specialization in geology or engineering.
- Experience: You should have at least two years of experience working on oil rigs or in other areas related to this field.
- Work history: Your resume should show relevant work experience and references from previous employers.
Benefits Of Working In The Oil And Gas Production Industry
Many benefits come along with working in this industry, and below are some of the reasons you might want to work in the oil and gas production industry.
1. Attractive Pay
One of the reasons anyone would want to work in the oil and gas production industry is the attractive pay. You get to earn anywhere from $65,000 to as high as $500,000 per yea,r depending on your job role and the company size.
2. Adventure and Travel
Another good reason is that you will get to travel around the country or even around the world, depending on where your job takes you. You will also be able to learn a lot about different cultures and people from all over the world while being exposed to different types of environments every day.
Is There A Lot Of Travel Involved With Oil and Gas Production?
Yes, there is a lot of travel involved with this type of job because part of what they do consists in getting out into nature and looking for new resources or old ones lost due to time and erosion over time. They need people who can go out into remote areas where no one else can go and find these resources to use for their uses or sell them.
Are there jobs in the oil and gas industry?
Yes, there are thousands of jobs in this industry. The oil and gas industry is a big part of the global economy, accounting for one-third of all energy consumed worldwide. There are many opportunities available, from entry-level positions to high-level management positions.
The top jobs in the oil and gas industry are listed above in this article. To recap, midstream careers involve pipeline engineers and logistics coordinators managing the transport and storage of oil and gas. Downstream professionals, such as chemical engineers and refinery operators, work on refining crude oil into usable products.
There are also support roles, including environmental specialists, project managers, and IT professionals, to ensure smooth operations and regulatory compliance in the industry.
How do I get a job in the oil and gas industry?
The best way to get a job in the oil and gas industry is to apply for available jobs online. You can also contact companies directly to see if they have any openings or apply for internships.
What skills do I need to have a career in oil and gas?
You’ll need an education in one of these areas: petroleum engineering, chemical engineering, mechanical engineering, geology, or geophysics. You’ll also need strong communication skills, as well as excellent math skills.
Practical skills like operating equipment and physical fitness are all added advantages for whoever aspires to take a career in the oil and gas industry, especially in challenging environments. Soft skills, such as effective communication, teamwork, adaptability, and time management, can also come in handy. The industry is concrete; these are basic skill sets or qualities that qualify anyone.
Other skills will be the professional possession of the credentials that demonstrate that you studied and passed the courses required in the university to be accorded the role you are applying for.
Conclusion
Working in the oil and gas production sub-sector can sometimes be demanding and dangerous but rewarding. Most of the highest paying jobs in the oil and gas production sub-sector are tied around engineering and physics. A background in these fields will help you land high-paying jobs in the sub-sector faster.
