10 Best-Paying Jobs in the Oil Industry

11/24/22 by Zack Saadioui

The oil industry is notoriously lucrative. Here are the 10 best-paying jobs in the field, from entry-level positions to top executive roles.

Petroleum Engineer

Petroleum engineers are in charge of designing and developing methods for extracting oil and gas from below the ground. They also find new ways to extract these natural resources, as well as ways to improve current methods. Petroleum engineers typically work for oil and gas companies, but some may work for engineering firms that serve the industry. As the demand for oil and gas increases, so does the need for petroleum engineers. In fact, the Bureau of Labor Statistics projects that employment of petroleum engineers will grow by 3% from 2019 to 2029. The median annual wage for petroleum engineers was $137,170 in May 2019. The lowest 10% earned less than $79,550, and the highest 10% earned more than $208,000.

Geoscientist

Geoscientists are responsible for studying the earth and its features. They use their knowledge to find natural resources, such as oil, gas, and minerals. Geoscientists typically work in the oil and gas industry. They may also work in the mining industry, environmental consulting, or government.

Drilling Engineer

Drilling engineers are responsible for the planning and execution of drilling operations. They work closely with other engineers and geoscientists to ensure that the drilling operation is safe and efficient. Drilling engineers typically have a bachelor's degree in engineering, and many also have a master's degree.

Petroleum Geologist

The job of a petroleum geologist is to study the history of the Earth’s rocks and to use this information to find oil and gas reserves. Petroleum geologists typically have a bachelor’s degree in geology or a related field, and many also have a master’s degree. Petroleum geologists typically work for oil and gas companies, and their work is essential to the success of these companies. Without petroleum geologists, oil and gas companies would not be able to find the reserves they need to operate. The job of a petroleum geologist is very important, and it is also very well-paid. Petroleum geologists typically make a lot of money, and they often have very good benefits.

Production Engineer

Production engineers in the oil industry typically work in office settings, but may also travel to oil and gas production sites. They work with other engineers and production staff to develop and implement plans for drilling, completing, and operating wells. Production engineers also monitor and optimize production, troubleshoot operational issues, and develop new technologies to improve efficiency and recovery. In addition, they may manage teams of engineers and technicians, and provide training and mentoring.

Reservoir Engineer

Reservoir engineers are responsible for the assessment, development and management of oil and gas reserves. They work closely with geologists and other engineers to determine the best way to extract oil and gas from a given reserve. Reservoir engineers typically have a bachelor's degree in engineering, although some jobs may require a master's degree. Many reservoir engineers also have a background in mathematics and physics.

Chemical Engineer

Chemical engineers are in high demand in the oil industry due to their ability to design and oversee the production of chemicals used in the extraction and refining process. They are also responsible for developing new methods and technologies to improve the efficiency of the production process. Chemical engineers typically earn a salary of $120,000 or more per year.

Petroleum Technician

The high price of oil has created a boom in the oil industry, and with it, a demand for skilled workers. Petroleum technicians are in high demand, and with the right training, you can land one of these high-paying jobs. Petroleum technicians typically work in the oil and gas industry, where they are responsible for the maintenance and repair of equipment used in the drilling and production of oil and gas. With the right training, you can become a petroleum technician and earn a good salary.

Petroleum Geophysicist

A petroleum geophysicist is someone who uses their knowledge of geology and physics to find oil and gas reserves. They use a variety of methods to do this, including seismic surveys, gravity surveys, and magnetic surveys. Petroleum geophysicists typically work for oil companies, but they may also work for government agencies or universities. The average salary for a petroleum geophysicist in the United States is $137,000 per year. However, salaries can vary widely depending on experience, location, and employer. For example, entry-level positions may pay $60,000 per year, while experienced geophysicists working in the oil-rich Middle East can earn over $1 million per year. If you're interested in a career as a petroleum geophysicist, you'll need to have a strong background in mathematics and the physical sciences. A bachelor's degree in geophysics or a related field is typically required, and a master's degree or PhD may be

Pipeline Engineer

Pipeline engineers are responsible for planning, designing, and overseeing the construction of oil and gas pipelines. They must ensure that the pipelines are safe and meet all regulatory requirements. Pipeline engineers typically have a bachelor's degree in engineering and several years of experience in the oil and gas industry.

Conclusion

The oil industry is full of high-paying jobs. From engineers to executives, there are many positions that offer six-figure salaries. If you're looking for a well-paying career, the oil industry is a great place to start.