Oil and Gas Geologist Jobs: Striking It Rich

With gas prices going through the roof over the past year, you might think the only ones doing well in the petro industry were oil company executives, but oil and gas geologist jobs are also bringing in strong annual salaries, according to a recent report by the Houston Chronicle. The oil biz has been struggling with the problem of older workers and a lack of younger recruits. Since supply is not meeting demand, many oil field jobs are paying more than in previous years.

A recently released study by the University of Houston and the Boyden executive search firm stated that the median salary of a petroleum geologist (with 10 years experience) has increased 23 percent over the past three years, going from $107,500 (2004) to $132,132 (2006). But it's not just the oil and gas geologist jobs; oil drilling rig jobs have hit a gusher, increasing from $36,000 to $58,000 during the same three years. Some oil companies are even paying sign-on bonuses (up to $15,000) to entry-level geologists with master's degrees.

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Fewer Jobs on Oil Rigs in the 80's

According to the University of Houston and Boyden study, the added expense of finding, training and keeping workers in the petroleum market is costing the oil industry more than $5 billion annually. But it wasn't always this way. During the mid-1980s oil crash, petroleum companies cut employee rolls deeply; even George W. Bush got out of the oil biz. According to the American Petroleum Institute, the oil industry reportedly lost almost half a million jobs from 1982 to 2000; on top of that, future generations had little interest in oil rig jobs.

Today: Oil Rig Jobs Gulf

In the early 1990's, students passed on oil-related engineering courses in college, and went for technical degrees to get into software development. In the late 1990's, they were aiming for web site development. With the invasion of Iraq and the bounce in oil prices, the petroleum companies suddenly found themselves facing a worker shortage as older employees were retiring. The University of Houston and Boyden study stated that close to 40 percent of the oil industry work force is between 40 and 49, with another 32 percent clocking at 50 or older.

Outlook for Future Geologists

The University of Houston and the Boyden study also said that oil companies may spend as much as $500,000 to train an employee over a 10-15 year career. Since geologists find new oil, it takes three to four years (or more) to train an entry level newbie. Faced with these costs, some petroleum companies are trying to lure older workers out of retirement, but many of these older workers are hiring on for hourly wages much higher than what they earned with their oil drilling jobs, back in the day.

Geologist Salary and More

The study says salaries are way up in the following positions:

• Petroleum geologist: $132,000 a year (10 years' experience)
• Driller: $58,000 a year
• Field engineer: $30,000 a year plus up $400 a day in bonuses for offshore work.

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Cheers,

Dr. Al Lee

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• The Origin of Oil and Gas - JerryKoch.blogspot.com
• Info on Petroleum Engineering Salaries With Master's Degree

Comments

[Amit Sunil Raorane]

Can I get an entry level job on your reputed offshore? I am prepared to work hard for it.

[I am looking for a offshore drill rig employment, I do have experance on drill rigs.]

Looking for offshore employment. I am a very hard worker and do not mind long hours. I have been employed in the drilling ind. for about six years. I am not sure where to apply for this type of job, please email any susgestions to me. thank you My # is 775 397 3061 I can also be reached at 775 397 5878

[Interested in O&G Industry]

I wanted to know about what kind of salary should a PhD chemist with 2-3 years experience, in the Gulf coast region negotiate in O&G industry??? I feel as though some offers are not as high as I would think... Please help me! Thanks so very much!

[Pawel Jonca]

Dear Dr. Salary ,

I have finished university recently and presently I am looking for a job in Petroleum Industries. I would like to work on drilling rig. Although I have my diploma in Drilling and Geoengineering, I am fully aware that I have not experience in that field. However I am young, ambitious and self – confident person who will quickly learn new tasks. I am not expecting high salary because for me it is important to work in Petroleum Industries so as to gain new experience and improve my abilities.
I look forward to hearing from you.

Yours sincerely,

Pawel Jonca

[Fayaz Hussain]

RESPECTED SIR
I AM FRESH GEOLOGIST AND WANT TO APPLY AN OIL COMPANY IN IRAN PLEASE TELL ME ABOUT HOW TO APPLY.
THNAKS
FAYAZ HUSSAIN

[Muhammad Usman]

Respected Sir,

I have recently completed my Master in Geology. My CGPA is 3.94/4 with Silver Medal. Now I am looking for job. Please guide me where and how should I apply for job in oil and gas sector.

Regards

Muhammad Usman

[Munsif Sattar]

Dear Sir,

I have completed M.Sc Geology (Specialization in Petroleum Geology and Geochemistry) from the University of Karachi 2007, I have an intention to join a Petroleum organization. though I don't have any experience, but I am hard working, and also have I good academic record.please consider me, thank you.

[Kuntal Sinha]

Respected Sir,

I am a fresh student of Applied Geology seeking for job in oil Industries. I have no field experiences regarding oil. Please guide me how to proceed and apply.

[zafar]

I have completed M.S Applied Geology (Specialization in Micropalaentology and Straitigraphy) from the University of Azad, Jummu and Kashmir 2007. I have an intention to join a Petroleum organization, though I don't have any experience, but I am hard working and also have I good academic record. Please consider me, thank you.

[Abbas]

Dear Sir,
I have completed my Master degree in Geology in 2006 with distinction(Gold Medal). Now I am working as a junior geologist and i have 1 experience in industrial minerals like feldspar, kaoline, Ball clay. I am handling projects in middle east and far east asian countries, I am very much intrested in petroleum exploration side. My aim and dream to get oil sector job. Please guide me where and how should I apply for job in oil sector.i will be a great thankful to you.

[Hamad Ur Rahim]

Respected Sir,

I have recently completed my Master in Geology. Now I am looking for job. Please guide me where and how should I apply for job in oil and gas sector.

Regards

Hamad Ur Rahim

[small caps]

Good post.Looking for job.I wanted to know about what kind of salary should a PhD chemist will get with no experience..
small caps

[Ahmad ali]

Respected Sir. I have recently completed my Master in geology.Now i want to get a job in oil industry or any other costruction company.i am waitng for your fruitful gidence. Thank you.