How much can I earn in the oil and gas industry?

How much can I earn in the oil and gas industry

It’s no secret that jobs in the oil and gas industry can be incredibly lucrative.

In fact, not only are the average salaries amongst the most lucrative in any industry, but many roles also include a number of bonuses and overtime payments which put the pay packets up even further. And that’s without even considering contract work.

Not sure how much money is out there? Here are some of the top jobs in the oil and gas industry, and how much they pay:

Gas Engineer

Specialising in either service or installation, Gas Engineers install, repair and monitor gas systems and appliances. They work in a range of different settings, from large office buildings and structures on an industrial scale, or concentrate on working in private homes or other residential settings.

Salary: Starting salary would be around £14,000, rising to £30,000 once fully qualified.

Offshore Driller

Working on oil rigs or drilling platforms, Offshore Drillers supervise all drilling operations, primarily controlling the speed and rate of drilling.  Working in teams with Derrickmen and Assistant Drillers, they also need to select the right type of drill bit to suit the terrain, as well as employing techniques which will prolong the life of the bit.

Salary: Between £30,000 and £50,000, depending on experience.

Petroleum Geologist

A Petroleum Geologist is a scientist who specialises in the discovery, estimation and extraction of oil and gas deposits underneath the surface of the Earth. It’s their job to inform an oil company of where they should be drilling, using techniques such as geochemical analysis, sonar and satellite mapping to determine where the most profitable (and safest) deposits can be found.

Salary: Petroleum Geologists earn an average salary of around £50,000.

Pipeline Engineer

Pipeline Engineers design and install the vast network of pipes that are used to transport gas deposits. They can work offshore or onshore, and in any part of the oil and gas process. However, with hundreds of thousands of miles worth of pipelines needed worldwide, the job is an absolutely essential part of the industry.

Salary: Around £50,000, on average, although Senior Pipeline Engineer salaries can easily reach closer to the £70,000 mark.

Oil Trader

To put it simply, Oil Traders are commodities traders who buy and sell crude oil on behalf of a third party. They may also sell ‘futures contracts’, for those who wish to buy a certain amount at a pre-determined date in the future. Potential clients for Oil Traders include energy companies, investment firms, private businesses, or any other organisation with in an interest in acquiring large quantities of oil.

Salary: Somewhere between £50,000 and £70,000, not taking into account the lucrative bonuses available.

Risk Manager

The oil and gas industry is a volatile and ever-changing one, and one which is affected by a range of economic, geographic and geological factors. It’s a Risk Manager’s job to advise businesses on any potential threats which may come their way, and put contingency plans in place for every possible scenario, in order to minimise loss to profitability or reputation.

Salary: Between £50,000 and £70,000, as a rough estimate.

Refining Engineer

Working exclusively in the downstream process of the oil and gas industry, Refining Engineers design, install and oversee oil refineries, ensuring that they continue to run smoothly, safely, and consistently maintain their quality output. They are experts in computer-aided design (CAD), and need to keep their expertise up-to-date in order to stay at the top of their game.

Salary: Somewhere in the region of £60,000.

Subsea Engineer

Subsea Engineers exclusively deal with the installation and maintenance of mechanical systems under the sea. This could include building oil well rigging, wellheads and pipelines, or even underwater vehicles/other equipment. The job also covers technical analysis and research, such as studying the seabed to see if it can support any new structures added.

Salary: £70,000, as a rough estimate.

Completion Engineer

Completion Engineers design and monitor the installation of well completions, to help maximise oil and gas production. This could involve measuring production rates or pressure, as well as using CAD to design the well, and overseeing all work in the field to ensure the plans are carried out effectively. This job may also come under the banner of Petroleum Engineer.

Salary: Average salary for a Completion Engineer is around £100,000.

Drilling Consultant

A Drilling Consultant takes responsibility for all day-to-day rig operations, be it relaying orders from on-shore supervisors and relaying them on-site, or dealing with vendors and contractors. They are experts in their field, and usually have a minimum of five years’ (and, sometimes, upwards of ten years’) experience in the industry before moving into the position.

Salary: Salaries for Drilling Consultants generally run into six figures, and may start somewhere around £150,000 or higher, depending on location.

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