In recent years, there has been an increase in the number of people interested in oilfield services equipment as a career path. This is likely due to the high salaries and potential for advancement that this field offers. However, before making the decision to pursue this career path, it is important to consider all aspects of the job. This article will provide an overview of oilfield services equipment and discuss some of the pros and cons of this career path.
- What is Oilfield Sevices/Equipment?
- What is the Scope of Oilfield Services/Equipment?
- So, Is Oilfield Services/Equipment A Good Career Path?
- The Work Involved in Oilfield Services
- 6 Best Paying Jobs in Oilfield Services/Equipment in 2022
- 1. Mechanical Engineer (Average Annual Salary: $79,354)
- 2. Electrical Engineer (Average Annual Salary: $76,707)
- 3. Software Engineer (Average Annual Salary: $82,460)
- 4. Human Resources Manager (Average Annual Salary: $77,398)
- 5. Petroleum Engineer (Average Annual Salary: $90,607)
- 6. Geochemist (Average Annual Salary: $71,471)
- Top 9 Companies in the Oilfield Service/Equipment Industry
- 1- Schlumberger
- 2- Halliburton
- 3- Baker Hughes
- 4- Loews Corporation
- 5- China Oilfield Services
- 6- Yantai Jereh Oilfield Services Group
- 7- Worley
- 8- Valaris
- 9- Secure Energy Services
- What are the Qualifications Required for Work in this Industry?
- Best Colleges to Study About Oilfield Services
- 1. University of Calgary – Rig Technology Program
- 2. Red Deer College – Rig Technician Program
- 3. SAIT – Rig Operations Program
- 4. Nor Quest College – Instrumentation Program
- What are the Average Wages?
- What are the Benefits of Working in this Industry?
- What are the Biggest Challenges of Working in this Industry?
- Who Dominates This Industry? What is the Market Share?
- How do I Find a Job in this Sector?
- Frequently Asked Questions About Oilfield/Equipment Career Path
- How many jobs are available in oilfield services/equipment?
- What do oilfield workers do?
- How much do oilfield workers make?
What is Oilfield Sevices/Equipment?
The oilfield services equipment is a broad category that refers to the tools and machines used in the upstream oil and gas industry. This includes the exploration and production of crude oil and natural gas, as well as the refining process. The equipment can be divided into two main categories: drilling and production.
Drilling is the process of creating a hole in the ground to extract hydrocarbons. This is typically done with a rotary drill bit, which is attached to a drilling rig. The rig can be moved around onshore or offshore to access different areas. Production refers to the actual extraction of oil and gas from wells. This is done with pumps, compressors, and other machinery/components.
What is the Scope of Oilfield Services/Equipment?
According to a report by Markets and Markets, the oilfield services sector will grow from $3.4 billion to $4.5 billion by 2025 at a compound annual growth rate (CAGR) of 5.5%. This growth will be driven by the increasing demand for oil and gas across the globe. Oilfield services equipment is expected to account for a major share of this growth.
The scope of this market includes machines such as pumps, compressors, blowers, turbines, generators, separators, heat exchangers, and valves. Among these, pumps account for the largest share in this market. Pumps are used for various purposes such as pumping fluids from one place to another and maintaining desired pressure in the system. Other factors that are driving the adoption of pumps include stringent environmental regulations and a rise in shale gas production.
Some of the key drivers of demand for oilfield services/equipment include the increase in drilling activities, the rise in unconventional oil and gas production, and the expansion of refineries and petrochemical complexes. The growing population and rising incomes in developing countries are also driving the demand for oil and gas production.
So, Is Oilfield Services/Equipment A Good Career Path?
The best career path for someone interested in oilfield services equipment depends on their individual skills and interests. However, some things to consider include whether the field is growing, what types of jobs are available, and how much training is required.
The oilfield services industry is growing rapidly, so there are many opportunities for advancement. Jobs in this field can vary from entry-level positions such as equipment operators to management positions. Training requirements vary depending on the position, but most jobs require some form of certification or degree.
Overall, the oilfield services equipment industry offers many opportunities for career growth and advancement. It is a rapidly growing field with many different types of jobs available. Training requirements vary depending on the position, but most jobs require some form of certification or degree.
The Work Involved in Oilfield Services
Oilfield service companies provide the manpower and equipment necessary to drill oil and gas wells, maintain them, and produce hydrocarbons. The work involved in providing these services is physically demanding and often dangerous. It requires a high level of skill and expertise.
The work begins with locating potential drilling sites. This is done using seismic data to identify areas where there is likely to be oil or gas trapped in the rock formation. Once a site has been selected, the drilling rig is set up and the well is drilled.
The well must be kept clean and clear of debris during drilling, so the crew must constantly monitor it for changes in pressure and rate of penetration. If any problems arise, they must be dealt with immediately.
6 Best Paying Jobs in Oilfield Services/Equipment in 2022
The field service equipment industries in the area of oilfield industry provide a variety of jobs in a number of areas of expertise. This is due to the fact that they need knowledge, talent, and experience along with different concentrated skills. Following are some of the best jobs in this industry:
1. Mechanical Engineer (Average Annual Salary: $79,354)
A mechanical engineer job in oilfield services equipment can be very demanding, but also very rewarding. They are responsible for the design and development of new equipment and products used in the oilfield. This can include anything from drilling rigs to pumps and valves. They must be able to work with a team of engineers, as well as customers and vendors, to create products that meet the specific needs of the oilfield.
Mechanical engineers must also be able to troubleshoot problems and propose solutions. This is a highly technical field, so they must have a strong understanding of physics and mathematics. The job can be dangerous and challenging, but it also offers opportunities for travel and high salaries.
2. Electrical Engineer (Average Annual Salary: $76,707)
Electrical engineers are an integral part of any oilfield services project. They plan and design the electrical products and setup required for the smooth operation of equipment. This can include anything from drilling rigs and pumps to tankers and pipelines.
An electrical engineer in the oilfield services industry typically works on a team that includes other engineers, technicians, and operators. They must be able to work with a wide range of equipment and be able to solve problems quickly when they arise.
Electrical engineering is a field that is constantly changing, so engineers must stay up to date on the latest technologies. They also need to be able to work under pressure and handle multiple tasks simultaneously.
3. Software Engineer (Average Annual Salary: $82,460)
As a software engineer in the oilfield services equipment industry, you will be working on developing and maintaining software applications that control various pieces of machinery.
This can include anything from drilling rigs to pumps and compressors. Your work will be critical in ensuring that these machines operate as efficiently as possible, so it is important to have a strong understanding of the principles of engineering and computer science.
In addition, you should be able to work well in a team environment, as many projects will require close collaboration with other engineers. If you are interested in pursuing a career in this field, then the oilfield services equipment industry is a great place to start.
4. Human Resources Manager (Average Annual Salary: $77,398)
A human resources manager job in oilfield services equipment is a great opportunity to work in an industry that is constantly growing. The position will require the individual to manage all aspects of the human resources department and ensure that all employees are treated fairly and in accordance with company policy.
The human resources manager will also be responsible for recruiting new employees, conducting interviews, and overseeing the onboarding process. The ideal candidate for this position will have a degree in business analyst or HR, and at least five years of experience managing a human resources department.
The job offers a competitive salary and excellent benefits, including medical insurance, 401(k) plan, and paid vacation days. If you are interested in pursuing a career in human resources, then an oilfield services equipment company is a great place to start.
5. Petroleum Engineer (Average Annual Salary: $90,607)
The oilfield services equipment sector is a critical part of the petroleum industry. Petroleum engineers working in this sector are responsible for the design, development, and operation of the equipment used to extract oil and gas from the ground. This can include everything from drilling rigs and pumps to tanks and pipelines.
The job is challenging and involves working in a fast-paced environment. However, it can also be rewarding, as petroleum engineers are instrumental in helping to unlock new sources of energy. They also have the opportunity to work on some of the most advanced equipment in the industry.
6. Geochemist (Average Annual Salary: $71,471)
As a geochemist, you would be responsible for analyzing the special chemical and physical properties of fluids and rocks extracted from oil and gas wells. This information is used to help determine the best way to produce oil and gas from a well, as well as to assess the overall health of an oil or gas field.
Your work would involve using various lab instruments to measure things like acidity, density, and hydrocarbon content. It is important to have a strong understanding of both geology and chemistry in order to be successful in this field.
Top 9 Companies in the Oilfield Service/Equipment Industry
Schlumberger is a company that operates in the oilfield service equipment industry. It has an annual revenue of $49.134 billion and employs 92,000 people. The company is headquartered in the United States.
Halliburton is one of the largest oilfield service companies in the world. It operates in more than 70 countries and has more than 40,000 employees. In 2017, it had a revenue of $23.291 billion. Its headquarters are in the United States.
3- Baker Hughes
Baker Hughes is an oilfield service equipment company. It is headquartered in the USA and has around 54,000 employees. The company had annual revenue of $22.724 billion in 2017. Baker Hughes operates in the oilfield service equipment industry.
4- Loews Corporation
The Loews Corporation is an American company that operates in the oilfield service equipment industry. The company employs 10,340 people and had annual revenue of $15.419 billion in 2016. Its headquarters are in the United States.
5- China Oilfield Services
China Oilfield Services company is one of the largest oilfield service equipment companies in the world. It has over 14,000 employees and reported a revenue of $8.664 billion in 2016. The vast majority of its revenue comes from China, although it does have a significant international presence. Its headquarters are in China.
6- Yantai Jereh Oilfield Services Group
Jereh Oilfield Services Group Company is a professional oilfield service equipment company. It is headquartered in Yantai, Shandong Province, China. The company has an average of 4,990 employees and annual revenue of $6.541 billion. Jereh has been committed to providing customers with comprehensive oilfield services and products for many years. It has a well-developed R&D and production system, as well as rich experience in application.
The Worley company is an oilfield service equipment industry that operates in 57 countries. In 2016, they had annual revenue of $4.121 billion and an average number of employees of 57,831. Their headquarters are in Australia.
Valaris is an oilfield service equipment company with 4,500 employees and $2.985 billion in annual revenue. The company is headquartered in the United Kingdom. Valaris was created in 2019 when Schlumberger and Weatherford combined their oilfield service businesses.
9- Secure Energy Services
Secure Energy Services is a company in the oilfield service equipment industry. They are headquartered in Canada and have an average of 1,100 employees. Their annual revenue is $1.303 billion. They are a publicly traded company, and its ticker symbol is SES. Secure Energy Services provides services such as well servicing, production drilling, facility construction, and pipeline maintenance.
What are the Qualifications Required for Work in this Industry?
There is a wide range of jobs in the oilfield services equipment industry and each position has specific qualifications. For many jobs, a minimum of a high school diploma or equivalent is required. However, for more specialized positions or those that work with more dangerous equipment, a bachelor’s or master’s degree may be necessary.
Relevant experience in the field is also often required. Those who want to work in this industry should be prepared to undergo extensive training on the safe use and operation of the equipment they will be working with.
Best Colleges to Study About Oilfield Services
Numerous colleges and universities across the country have training programs for students interested in working in the oilfield services industry.
1. University of Calgary – Rig Technology Program
This training course will prepare you for work as a laborer, a runner, or a hand on the rigging of drilling products. The program will teach you procedures for being on a rigging rig and safe working on a rig. You will learn about various instruments and types of oilfield equipment.
2. Red Deer College – Rig Technician Program
Through this specific two-edged 2-year program, you will learn how to perform rigging to repair equipment that consists of pumps, motors, and other sorts of oilfield mechanical components. You will also learn how to work an air drill rig and plenty of other kinds of jobs in the oilfield.
3. SAIT – Rig Operations Program
This training program teaches you how to carry out safety procedures on your machine crews and the appropriate signal hand signals required for directorial oversight. You will also learn the fundamental components of drilling assemblies, pump systems used in the field, and how to utilize various computer software programs related to your career path.
4. Nor Quest College – Instrumentation Program
This program includes training in the use of sensors, motors, controllers, and other electronic components used by the gas industry.
A number of schools and universities around the country provide training programs for students who are wanting to work in the oilfield service industry. In addition, there are also numerous online courses you can take that will provide you with the necessary knowledge base for an entry-level laborer or specialist working in the petroleum industry.
What are the Average Wages?
According to the United States Department of Labor, the average wage for workers in the oilfield services equipment industry was $27.75 per hour as of May 2017. This is a significantly higher wage than the national average of $22.23 per hour. The oilfield services equipment industry is a rapidly growing field, with expected employment growth of 5.5 percent from 2016 to 2026. This means that there will be plenty of job opportunities in this field in the coming years.
The wage gap between men and women is significant in this industry. The median wage for men was $64,290 in 2016, while the median wage for women was only $45,820. This means that women earn only 71 percent of what men earn.
What are the Benefits of Working in this Industry?
The oilfield services equipment industry is a great place to work for many reasons:
- First, the industry offers employees a variety of job opportunities. Employees can work in many different areas of the industry, such as engineering, manufacturing, and sales.
- Second, the industry offers employees a wide variety of benefits. For example, many employers offer health insurance that covers long-term care, dental and vision coverage.
- Third, the industry is a great place to work for women. According to the U.S.
- Fourth, the industry is constantly evolving, which means employees have the opportunity to learn new things and develop new skills.
- Fifth, the industry offers competitive salaries and benefits packages.
- Finally, employees in the oilfield services equipment industry are able to work in a challenging and rewarding environment.
What are the Biggest Challenges of Working in this Industry?
Oilfield services companies are constantly on the lookout for new talent. The oilfield services equipment industry is a challenging but lucrative one. It is also a very demanding industry, as workers are often required to spend extended periods of time away from home. There are many challenges that come with working in the oilfield services equipment industry.
- One of the biggest challenges is living away from home for extended periods of time.
- Another challenge is dealing with difficult and dangerous working conditions. Workers in the oilfield services equipment industry often have to deal with extreme weather conditions, as well as hazardous environments.
- Third they also have to work long hours, sometimes under very difficult circumstances. It can be challenging to balance work and personal responsibilities when you are living in a remote location.
The oilfield services equipment industry can be a great opportunity for career-minded individuals.
Who Dominates This Industry? What is the Market Share?
The oilfield services equipment industry is a highly competitive market, with many companies. But who dominates this industry? And what is the market share of these companies?
According to a report by MarketsandMarkets, the top five players in the oilfield services equipment industry accounted for more than 50% of the market share in 2016. These players are:
- Baker Hughes
- GE Oil & Gas
- National Oilwell Varco
How do I Find a Job in this Sector?
When looking for a job in the oilfield services equipment industry, it is important to know what companies are hiring:
- LinkedIn is a great resource for finding out which companies are hiring and what positions they have open.
- Another great resource for finding jobs in the oilfield services equipment industry is Indeed.com.
- Craigslist can also be a great resource for finding jobs in this industry, as well as networking with others in the industry.
- Finally, it is important to keep an eye on job boards and newspapers to see what new opportunities are available.
Frequently Asked Questions About Oilfield/Equipment Career Path
How many jobs are available in oilfield services/equipment?
The oilfield services equipment industry is made up of several sub-sectors, including drilling, production, processing, and transportation. Each of these sub-sectors has its own set of job requirements. There are many different types of jobs available in the oilfield services equipment industry, including engineers, technicians, operators, and drivers.
What do oilfield workers do?
Oilfield workers are responsible for maintaining the oil and gas wells in an oilfield. They may work on the drilling rigs, doing fracking, or repairing pipelines. They must be able to work in difficult and dangerous conditions, often outdoors in all weather conditions. They must be able to work long hours and be able to handle heavy equipment.
How much do oilfield workers make?
Oilfield workers are some of the highest-paid employees in the United States. According to Payscale, the average salary for an oilfield worker is $75,790 per year. This is much higher than the national median income of $59,039.
Oilfield services equipment can be a good career path. It can be challenging and rewarding, and there are many opportunities for advancement. If you are interested in this field, I encourage you to research the different types of jobs available and learn as much as you can about the industry. With hard work and dedication, you can have a successful career in oilfield services equipment.