Many people wanting to enter the Oil industry have asked this question; Is Integrated Oil companies a good career path? We will shed light on the answer to this question. First, let’s talk about the Integrated Oil Company.
We can trace the history of oil and gas companies as far back as the ‘90s. And until today, the Oil and Gas Industry continues to be one of the most prominent among other industries.
The Oil and Natural Gas Industry would not phase out quickly because it remains pivotal to modern life. Not only is the Oil and Gas Industry important to everyday life, but it is also key to the success of other industries.
This is because it intertwines its operations with other industries producing goods and services. Despite the popularity and importance of the Integrated Oil Career path, it is still not uncommon to find people asking, “Is Integrated Oil companies a good Career Path?”
This article aims to throw more light and clear doubts about whether Integrated Oil companies are a good career path.
A Brief Glance at the Integrated Oil Companies Career Path
To start with, Integrated Oil company deals majorly with crude oil and natural gas production. An Integrated oil company may choose to produce either Crude oil or Natural gas while, at times, they deal with the production of both assets.
As mentioned earlier, an Integrated Oil company also has its operations intertwined with other Industries that produce goods and services, thus making them an essential asset to different types of Industries.
For a long time, the Integrated Oil and Gas Industry has played an essential role in the world’s development at large.
The technological advancement stemming from the existence of the Oil and Gas industry is one reason it will not stop evolving anytime soon.
Integrated oil companies are not just limited to oil and gas jobs alone, contrary to the expectations of most people. Anyone who chooses to pick a career in the Integrated Oil and Gas Industry may find his or herself working in sectors such as the Automotive Industry as well as the Healthcare sector to mention a few.
More often than not, Integrated Oil companies are privately-owned companies responsible for acquiring other Oil and Gas companies equally in charge of the exploration, extraction, purifying, and pumping of the oil.
Is Integrated Oil Companies a Good Career Path?
It is not uncommon to hear people ask, “Is Integrated Oil companies a good career path?” given the competitiveness that exists in the industry.
Undoubtedly, the Integrated Oil companies is a perfect career path. The oil and gas industry boasts of being among the most lucrative.
Given that their activities revolve around the refining of natural oil and gas and the production, supply, and distribution of oil, there would be numerous job openings available in the oil and gas industry.
The diverse sub-sectors in the Integrated Oil Industry make room for young professionals to get job opportunities.
Integrated Oil and Gas companies remain an avenue through which young professionals can have one of the most rewarding and fulfilling careers ever.
Although the industry tends to be hard to break into, it still doesn’t invalidate that a career path in the Oil and Gas Industry can be one of the best things to happen to graduates and job seekers.
When choosing to launch a career in the Integrated Oil Industry, personal choices, as well as skills and capabilities, should be considered. However, the Integrated Oil companies remain an excellent career path for anyone who deems it feet to venture into it.
And most importantly, choosing to start a career in the Integrated Oil Industry also offers people various perks and benefits.
Therefore, the answer to the big question, “Is Integrated Oil companies a good career path?” is in the affirmative.
To make it to the top in the integrated oil companies, you need high-paying jobs. You should check out these: 20 Best Paying Jobs In Integrated Oil Companies
Type of Integrated Oil Companies
These Integrated Oil companies are responsible for the distribution and supply of oil and gas. They are often divided into the following:
- Major oil companies
- Super-major oil companies
1. Major Oil Companies
A major oil company is an important oil and gas company comprising six or more prominent and popular companies that are also in charge of extracting and purifying natural resources.
The government owns important oil companies in charge of companies.
Examples of Major Oil Companies
The Saudi Aramco oil company ranks as the 5th largest major oil company globally. The Saudi Aramco oil company is an important and notable force in the world of Oil and Gas Industries.
Indian Oil Corporation (IOC)
The Indian Oil Corporation is another large and successful oil company owned by the government. The IOC was ranked as the world’s 212th most successful oil company. They are also notable in the oil and gas industry.
Ente Nazionale Idrocarburi
Located in Italy, the ENI is an oil cum energy company that produces oil, natural gas, and electricity. They are one of the world’s largest and most successful oil companies and rank 216 on the global list of successful oil companies.
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2. Super-major Oil Companies
A super-major oil company is a large and privately-owned oil and gas company. They are the exact opposite of Major Oil companies, which are publicly owned.
Examples of Super-major Oil Companies.
Phillips 66 is a significant and privately-owned oil company located in America. It ranks as the 43rd most successful company in the world and #23 on the list of major companies worldwide.
It has its headquarters in Westchase, Texas, and Houston.
Located in the U.S, Exxon Mobil boasts of being the largest and most successful oil and gas company that doubles as privately-owned.
Exxon Mobil produces, supplies, and distributes natural gas, petroleum, and crude oil at a considerable price as compared to others.
It ranks second in the world’s largest oil and gas companies and has its headquarters in Irving, Texas.
Also located in the U.S, Chevron ranks as the 27th most successful and most significant oil and gas company. It is also listed as the 3rd largest super-major oil company in the world. Its headquarters are located in San Ramon, California, United States.
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Examples of Integrated Oil Companies Career Paths
The following are carefully selected examples of Integrated Oil company’s career:
- 1. Director of Operations.
- 2. Drilling Engineering.
- 3. Oil Hauling
- 4. Gas Plant Operations
- 5. Pipeline Construction Management
- 6. Petroleum Geology
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Pros of a Career in Integrated Oil Companies.
Choosing to start a career path in the Integrated Oil companies sector comes with many perks and benefits, a few of which are:
1. Satisfactory Compensation
Starting a career in the Integrated Oil companies Industry comes with satisfactory compensation.
This is because, compared to the average annual salaries paid to workers of other Industries, that of the Integrated Oil companies is relatively higher.
Therefore, anyone seeking to start a career in an Integrated Oil company can be assured of satisfactory compensation.
2. Availability of Diverse Job Opportunities
The Integrated Oil Industry and companies boast various job openings and opportunities for anyone seeking to launch a career.
Given the rate at which there is the availability of job opportunities that aid career advancement, it wouldn’t be difficult for anyone who decides to walk a career path in Integrated Oil Industries to land a job as long as they possess the necessary skill, abilities, and qualifications.
3. Addition to skill set and knowledge
Some roles in some Integrated Oil Companies allow employees to undergo training to help them acquire the needed skills to fit correctly into the role if they cannot.
The acquisition of skills goes a long way in adding to the skills and knowledge of the employee. By the time they seek to retire from their duties, there is a high probability that they will leave the companies with more skills than they came in with.
4. Financial Growth
The salary earned by employees of Integrated Oil companies provides them with the opportunity to experience financial growth.
Given that the salaries paid by Oil and Gas companies range from $95,200 to $110,000, one can easily say that working in an oil and gas company provides financial growth and success.
5. Travel Opportunities
Some roles in the Integrated Oil company’s path require employees to travel and be geographically mobile.
For someone who loves often traveling, landing such a role in the Integrated Oil Industry by choosing a career path would be nothing short of fun.
Therefore, travel opportunities and geographical mobility are benefits that anyone who chooses to start a career in the Oil and Gas Industry can enjoy.
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Cons of a Career in Integrated Oil companies
As much as there are a lot of advantages associated with starting a career in Integrated Oil Companies, there are also downsides.
The following therefore are the disadvantages of starting a career in the Integrated Oil Industry:
1. Long working hours.
Some job positions in Integrated Oil companies come with long working hours owing to the bulk of their responsibilities. This can be a significant turnoff in working in an Integrated Oil company.
2. Risks associated with some Job Positions.
Some roles in the Integrated Oil Industry come with their risks. Workers might be required to handle dangerous equipment or carry out risky jobs which revolve around the extraction and processing of Oil.
3. Constant traveling and movement.
The responsibilities attached to some of the job positions in the Integrated Oil companies require constant traveling and movement from one place to another. This can come as a significant disadvantage for someone who doesn’t fancy the idea of constantly having to be on the move.
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Skills Required to Succeed in a Career in an Integrated Oil companies
To succeed in a career in the Integrated Oil Industry, specific skills are required. Examples of these skills are:
Since most industries, including the Integrated Oil Industry, rely on technology, anyone who wants to have a successful career in the Integrated Oil Industry must possess basic IT skills.
Practical communication skill is a must-have for anyone who wants a successful Integrated Oil Industry career. This would enable them to effectively pass information to team members and customers.
The ability to analyze problems and proffer solutions to them is a skill that would come in handy and contribute to the success of a career in Integrated Oil Companies.
Teamwork and Cooperation.
Working well on a team and seeing the adequate performance of a project is also a skill needed to succeed in a career in Integrated Oil Companies.
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Education and Training Requirements for a Career in Integrated Oil Companies
To be able to work in an Integrated Oil company, one would need some level of education and training. Getting a Degree might also be essential in pursuing a career in Integrated Oil companies.
While some roles or job positions merely require a degree in a general field, some more professional job positions would require a degree in Science, Engineering, and even Management.
For anyone interested in the Engineering aspects of the Integrated Oil companies career, the following are examples of degrees to consider:
For anyone who wants to specialize in the Engineering aspect of the Integrated Oil Career Path, an Engineering degree would be required. And to further Niche down, a Petroleum or Mechanical Engineering degree may be considered.
A degree in Chemistry opens diverse opportunities for you in the Integrated Oil career path. It can help one to land a job position as a Petroleum Engineer or an Inspector in Integrated Oil Companies.
3. Chemical Engineering
Studying Chemical Engineering would further help one to Niche down in the Integrated Oil company’s career paths and land Engineering jobs that would bring in a good income.
This degree is perfect for anyone seeking to land the position of Analyst in the Integrated Oil company. With a degree in Mathematics, one can also land an Engineering job in an Integrated Oil company.
5. Petroleum Technology
A degree in Petroleum Technology also comes in handy in landing a job in an Integrated Oil company as it leaves one with the knowledge of how to extract crude oil and process it.
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Salary and Job Outlook for a Career in Integrated Oil Companies
According to the Statistics given by the US Bureau of Labor of Statistics (BLS), there were more than 80,000 jobs available in the Oil and Gas Industry by 2016. The number of available jobs is expected to increase by 11% by 2026.
By this estimation, the job prospects for integrated oil companies look promising. The fact that nearly 3.4 million jobs in the United States are tied to the Integrated Oil Industry also confirms that a career in the Oil and Gas Industry is promising and rewarding.
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How Much Can You Make from Integrated Oil Companies Career Path?
There is no specific salary tied to the Integrated Oil company’s career as the amount that can be made depends on the job positions you land and their responsibilities.
However, anyone working in Integrated Oil companies can earn anything from $65,000 to $130,000.
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List of Best Paying Jobs in the Integrated Oil Companies Career Path
The following is a carefully curated list of Best Paying Jobs in Integrated Oil companies:
- Petroleum Engineering– Average Annual Salary: $102,000
- Geoscientist– Average Annual Salary: $98,000
- Drilling Engineering– Average Annual Salary: $96,000
- Production Engineering– Average Annual Salary: $93,000
- Pipeline Engineering– Average Annual Salary: $92,000
- Project Management– Average Annual Salary: $89,000
- Business Development Management– Average Annual Salary: $88,000
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How to Get Started in the Integrated Oil Companies Career Path
To get started in the Integrated Oil companies career path, the first step is gaining the necessary skills, training, and educational requirements. This would enable you to land a professional job in the Oil and Gas Industry.
After acquiring the necessary skills and meeting the educational requirements, the next thing to do is research the companies you would love to work with and what it takes to work with them.
When these are done, you’re ready to launch your Integrated Oil Industry career.
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FAQs on Is Integrated Oil Companies a Good Career Path
How do Oil Companies accrue revenue?
Integrated Oil companies accrue revenue by engaging in Oil and gas exploration activities. These activities account for 75% of the income made by Oil companies.
Do Oil companies also deal with loss?
Hardly is there any Industry that doesn’t get to experience loss just as they accrue revenue, and they do not exclude even the Integrated Oil Industry.
Major oil companies experienced heavy losses in 2014, 2015, and 2020. This goes on to buttress the fact that Oil Companies also face losses.
What is the fastest growing engineering field in the Integrated Oil Industry?
Statistics say that the fastest growing engineering field in the Integrated Oil companies Career path is Industrial Engineering.
We trust that we have shown you that choosing to take a career path in the Integrated Oil Industry is one of the best things that could happen to any career-minded person.
Not only are there availability of job opportunities, but there is also the availability of career advancement and financial growth opportunities.
In summary, the Integrated Oil companies remain a great fit for anyone seeking to learn and develop more skills and knowledge in the field while still earning a good salary.
Although the industry is quite competitive, it is still possible to thrive in it since one has related skills and necessary qualifications.
For anyone who wishes to, there is no better time to venture into the Integrated Oil companies career path than now.
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