| On August 26 2008, CNN Money reported that | | | | about jobs and salaries for new hires? Well, |
| oil drillers are scrambling for workers. Too | | | | in February, The Wall Street Journal reported |
| many years of under-investment in oil rigs | | | | that new petroleum engineering graduates |
| and workers alike, coupled with the surge in | | | | received starting salaries of $80,000 to |
| oil prices over the last few years has led to | | | | $110,000, not including various perks and |
| a major shortage of experienced workers in | | | | signing bonuses. This demand is in no danger |
| oil fields at all levels. Noble Corporation, | | | | of peaking anytime soon. Oil companies are |
| one of the world's largest offshore drilling | | | | hiring petroleum engineering freshman |
| companies, has 1500 rig job openings in the | | | | students as summer interns, paying as much as |
| next 2 years for their 5 new oil rigs. Every | | | | $32.50 an hour. Texas Tech reports its 2008 |
| oil company is deploying new oil rigs | | | | graduating seniors will receive an average |
| everywhere from the Gulf of Mexico and the | | | | salary of $110,000. |
| deep water off Brazil to the coasts of Africa | | | | |
| and Saudi Arabia to meet today's increased | | | | Geologists, too, are in great demand. The |
| demand for oil. | | | | American Geologic Institute reports that the |
| | | | average starting salary for a geologist fresh |
| Filling the jobs in these offshore oil fields | | | | out of school is $81,300, up from $55,000 in |
| is proving to be a major challenge. Despite | | | | 2003. At their April meeting, the American |
| sky-high salaries in the range of $50,000 to | | | | Association of Petroleum Geologists reported |
| $80,000 even for new hires, there are not | | | | that graduate students (Masters and PhD) were |
| many takers for these offshore jobs. There | | | | receiving salaries of $80,000 to $110,000. |
| are several reasons for this reluctance: | | | | The good news for job seekers is that the |
| | | | demand for geologists for is unlikely to be |
| - Not many people are willing to live in the | | | | filled anytime soon. The American Geological |
| middle of the ocean on an oil rig | | | | Institute reports that out of 20,000 geology |
| | | | undergraduates, only 2,800 attain their BSc |
| - Extremes of temperature, either extremely | | | | after 4 years of study. In addition, many of |
| cold (most deep ocean oil rigs) or extremely | | | | today's oil industry geologists started work |
| hot (Africa), and sometimes both (the deserts | | | | in the 1970s, and will be retiring in the |
| of Saudi Arabia) | | | | next few years. Taken together, these facts |
| | | | mean that more and more geology vacancies are |
| - The demanding work schedule - 12 hours on, | | | | going to open up in oil companies in the |
| 12 hours off, 7 days a week for 2-4 weeks | | | | coming decade, with salaries likely to |
| straight | | | | increase further. It seems that, even today, |
| | | | taking up a Bachelor's Degree in Geology or |
| - Political volatility and armed violence, | | | | Geologic Engineering is well worth it. |
| for example rebels and insurgents in Nigeria | | | | Beefing this up with a Master's in |
| and other African nations, potential | | | | Sedimentology, Stratigraphy, Structural |
| terrorists in Saudi Arabia | | | | Geology or Geophysics will almost certainly |
| | | | net you an extra $20,000 or $30,000. |
| - Physical danger from storms like the recent | | | | |
| Gustav and Hurricane Katrina in 2005 | | | | With increasing demand for oil from China and |
| | | | India, as well as continuing demand from the |
| - Dangerous accidents like the 1988 Piper | | | | US and Europe to drive the search for more |
| Alpha drilling rig in the North Sea - 167 of | | | | oil, the job vacancies in oil fields and |
| the 226 men on board died when the oil rig | | | | offshore drilling rigs will remain unfilled |
| caught fire | | | | for some time to come. This is definitely the |
| | | | hot job of the next two decades. |
| Predictably, the highest salaries drawn in | | | | |
| oil companies are the executives with titles | | | | Are you looking for jobs in oil field? Click |
| starting with "C", like CEO, CFO, etc. Then | | | | here to learn how can help you to quickly and |
| you have the VPs and top salesmen. But what | | | | easily find jobs in oil field. |