The Dallas Morning News has suggested in one of its article by Elizabeth Souder that “This is a great time to look for a job in the oil industry.” Her report is largely based the oil prices and an aging industry workforce – something we have been following & acting upon for some time. With the rise in oil prices over the last two years (and notwithstanding the recent gyrations the past few weeks), there is increased enrollment in petroleum engineering and geology programs worldwide.
However, it is advisable not to base one’s career decision based on the commodity market. Before you decide to join the petroleum industry, here are a few things to consider.
Basic Aptitude
Strengths in science and mathematics are the backbone of petroleum engineering and geology careers. You will be doing a fair bit of analysis & modeling in your future roles. If you don’t have the the aptitude in the basic physical sciences you may want to consider other options.
Global Mobility
This industry is one of the most global in nature. Hydrocarbons are found in more than 80 countries, but its likely that in the next two decades extractable oil may be developed in more inhospitable climes. You can look forward to a fair bit of travelling in the Exploration & Production aspect of this sector, particularly if you join a oil services organization. This may strike a chord with you if you’re adventurous in nature, If frequent traveling is not your cup of tea you may want to evaluate other aspects of this sector; particularly in refining or marketing of hydrocarbons.
Cyclicality
The 90s saw a decline in prices which depressed the number and types of jobs in the sector. The past few years on the other hand has been characterized by a steep price rise as well as volatility. During boom times it does seem that the tipping point is far away, however know that Oil & Gas, much like other commodities, is a fairly cyclical industry. A future slowdown in the industry will effect the job market too. However the skills that you will pick up in this industry, including the managing complex engineering projects, data intensive modeling or opening new markets for hydrocarbons will stand you in good stead in other industries.
In summary, the industry is growing and is exciting. However you may want to take a longer term view as you plan on venturing into this field.
Tuesday, October 21, 2008
Wednesday, October 15, 2008
Engineering Students: Career aspirations, expectations & needs
As a part of our campus outreach program, we have been interacting with students from various engineering colleges all across India. On of our primary objectives has been to understand the mindsets of young graduating engineering students’ vis-à-vis their career aspirations, expectations and needs. We are in the process of compiling the findings and implications from a very extensively commissioned ethnographic research and we hope to share it with you soon.
Meanwhile, i would like to dwell upon a few very interesting observations and revelations that came out in the process.
One very heartening trend we noticed is a strong 'anti-IT' sentiment that is brewing among most students. I could never fathom how and why half my mates from regular engineering disciplines ended up with a software company! Perhaps the economic recession and saturation in the IT sector are accountable for this change. But most students we spoke to were pretty uncluttered in their minds - they didn't want to pursue a career where their core academic expertise had nothing to contribute.
Students today take a much more proactive role in planning their careers. The Internet epitomizes information for them and they are adept at using it for academic and professionals reasons too. They have increased awareness of career choices coupled with better exposure and understanding of most industries. They consequently seek information that will help them make more informed career choices. However the Energy industry still seems to be in an information black hole - they encounter only a few sources on career related information and none of them is detailed and credible enough.
Another finding of the research was the emphasis students placed on maintaining an equitable work-life balance, even though they haven’t entered the workforce yet! Money is important, but they also feel the need for quality time to actualize themselves. Students also rate work satisfaction as more important than remuneration packages and are keen on seeking out challenging work environments and getting to a personal sense of fulfillment.
To be continued...
Meanwhile, i would like to dwell upon a few very interesting observations and revelations that came out in the process.
One very heartening trend we noticed is a strong 'anti-IT' sentiment that is brewing among most students. I could never fathom how and why half my mates from regular engineering disciplines ended up with a software company! Perhaps the economic recession and saturation in the IT sector are accountable for this change. But most students we spoke to were pretty uncluttered in their minds - they didn't want to pursue a career where their core academic expertise had nothing to contribute.
Students today take a much more proactive role in planning their careers. The Internet epitomizes information for them and they are adept at using it for academic and professionals reasons too. They have increased awareness of career choices coupled with better exposure and understanding of most industries. They consequently seek information that will help them make more informed career choices. However the Energy industry still seems to be in an information black hole - they encounter only a few sources on career related information and none of them is detailed and credible enough.
Another finding of the research was the emphasis students placed on maintaining an equitable work-life balance, even though they haven’t entered the workforce yet! Money is important, but they also feel the need for quality time to actualize themselves. Students also rate work satisfaction as more important than remuneration packages and are keen on seeking out challenging work environments and getting to a personal sense of fulfillment.
To be continued...
Tuesday, October 14, 2008
Petroleum Geoscientists: Fun @ Work
There are many reasons for someone to choose a career in the Oil and Gas industry. Generous salary and benefits packages, flexible work hours and company-sponsored, high end industry training are a few of them. However, during our many sessions with the people working in this sector, one thing that has came above all the other perks of working in Oil and Gas is the element of fun and excitement.
For example, the geologists affiliated to the energy sector actually get the chance to ‘do geology’ in a high-tech, high-data environment. These types of exposures are only dreamed of and talked about in most other geo-science professional jobs. During a typical career, petroleum geoscientists gather, process, and analyze seismic and well data to locate drill-sites for their companies. Obviously, this means that some domestic and foreign travel is a part of the job assignment.
Generally, petroleum geoscientists learn to locate three types of drill-sites –
Exploration drill-sites which are big scaled and high risk
Field Development drill-sites – medium size with some risk and
Producing field drill-sites which are smaller in scale and very low risk
One can start a career with a medium-to-large company with a bachelor's degree in geology or geologic engineering. A master's degree with specialty in structural geology, sedimentology, stratigraphy, or geophysics/seismology is highly sought after qualifications for petroleum geoscientists. Moreover, there are career opportunities for research geoscientists, paleontologists, and geochemistry specialists as well, but in fewer numbers.
There is a popular myth prevalent among people that the number of petroleum-industry jobs fluctuates with the price of a barrel of oil. However, it is only a myth. Almost all leading HR managers will endorse the fact that the employment outlook for new graduates appears to be bright for the foreseeable future, irrespective of the ups and downs of the oil business, All oil and gas companies plan to grow slowly regardless of the price of oil, and they have strategies that include hiring new talent into their maturing workforces.
Job openings are currently available for people with 3 to 15 years of professional experience. Most of these openings occur because many smaller companies are willing to pay a premium in salary and bonuses to people trained by larger companies. What has been a trend now is that companies preferentially seek out students with advanced degrees, broad-based training in the fundamental principles of geology, and complementary teamwork and commercial skills developed through summer internships.
Before signing off, here's a short video from the Documentary "Geo Families - how I learned to love the Rocks"
For example, the geologists affiliated to the energy sector actually get the chance to ‘do geology’ in a high-tech, high-data environment. These types of exposures are only dreamed of and talked about in most other geo-science professional jobs. During a typical career, petroleum geoscientists gather, process, and analyze seismic and well data to locate drill-sites for their companies. Obviously, this means that some domestic and foreign travel is a part of the job assignment.
Generally, petroleum geoscientists learn to locate three types of drill-sites –
Exploration drill-sites which are big scaled and high risk
Field Development drill-sites – medium size with some risk and
Producing field drill-sites which are smaller in scale and very low risk
One can start a career with a medium-to-large company with a bachelor's degree in geology or geologic engineering. A master's degree with specialty in structural geology, sedimentology, stratigraphy, or geophysics/seismology is highly sought after qualifications for petroleum geoscientists. Moreover, there are career opportunities for research geoscientists, paleontologists, and geochemistry specialists as well, but in fewer numbers.
There is a popular myth prevalent among people that the number of petroleum-industry jobs fluctuates with the price of a barrel of oil. However, it is only a myth. Almost all leading HR managers will endorse the fact that the employment outlook for new graduates appears to be bright for the foreseeable future, irrespective of the ups and downs of the oil business, All oil and gas companies plan to grow slowly regardless of the price of oil, and they have strategies that include hiring new talent into their maturing workforces.
Job openings are currently available for people with 3 to 15 years of professional experience. Most of these openings occur because many smaller companies are willing to pay a premium in salary and bonuses to people trained by larger companies. What has been a trend now is that companies preferentially seek out students with advanced degrees, broad-based training in the fundamental principles of geology, and complementary teamwork and commercial skills developed through summer internships.
Before signing off, here's a short video from the Documentary "Geo Families - how I learned to love the Rocks"
Monday, October 6, 2008
Climate-Change Management: Managing the Environment
The world is gradually moving from fossil fuel to greener substitutes. The western European countries’ governments especially are spending millions of Euros on alternative power source. However, one can not deny the need of fossil fuel to keep the world moving on. Whether we like it or not, Oil and Gas are the still the basic source for all our primary energy needs – 65% to be precise.
Even though developed countries are looking for alternative, renewable energy, it will be unfair to expect the same from the developing countries to follow suit. Growing economies like China and India have rapidly increased their fuel consumption, resulting in even higher demands. The technology and reliability of renewable energy use on a widespread commercial basis are not yet established nor are expected to be for several decades. Exorbitant cost is another major factor.
The best bet in view of the environmental effects like Global Warming, is that we should be more responsible towards the nature before we disturb its fine balance. This new sense of responsibility has given rise to academic fields like Climate Change Management and allied jobs in the Oil and Gas sector like Environmental Engineer, Environmental Geologist and Environmental Scientist for Petroleum etc.
Presently, a large portion of money is being pumped into the climate-change management studies is flowing from government sponsored grants apart from corporate or academic Research & Development. The U.S. Global Change Research Program has invested almost $20 billion in the areas of climate change and global change research. As we speak, more and more corporations are jumping into the foray to get access to specialists who can help them anticipate and mitigate the business impact of climate change.
The field is relatively new – not just as a course of study, but also as a career path. However, one can find many related environmental services jobs, drawn from diverse disciplines such as meteorology, geology and engineering. Companies are in a lookout for environmentally-savvy managers who can deliver energy efficiency, low carbon emission, smart buildings as well as sustainable business practices. Many of these corporations are willing to pay a premium to get out in front of the macro trend. Most of the current entry-level jobs demands academic qualifications like a bachelor’s degree in engineering or environmental fields or even a science-related graduate degree. If you can mix environmental management with a business degree, there is a lot of scope.
If you’re prospecting for work, bear in mind that there’s no environmental job gold rush yet but if you are the type to plan ahead, this is a career path destined for important things.
Even though developed countries are looking for alternative, renewable energy, it will be unfair to expect the same from the developing countries to follow suit. Growing economies like China and India have rapidly increased their fuel consumption, resulting in even higher demands. The technology and reliability of renewable energy use on a widespread commercial basis are not yet established nor are expected to be for several decades. Exorbitant cost is another major factor.
The best bet in view of the environmental effects like Global Warming, is that we should be more responsible towards the nature before we disturb its fine balance. This new sense of responsibility has given rise to academic fields like Climate Change Management and allied jobs in the Oil and Gas sector like Environmental Engineer, Environmental Geologist and Environmental Scientist for Petroleum etc.
Presently, a large portion of money is being pumped into the climate-change management studies is flowing from government sponsored grants apart from corporate or academic Research & Development. The U.S. Global Change Research Program has invested almost $20 billion in the areas of climate change and global change research. As we speak, more and more corporations are jumping into the foray to get access to specialists who can help them anticipate and mitigate the business impact of climate change.
The field is relatively new – not just as a course of study, but also as a career path. However, one can find many related environmental services jobs, drawn from diverse disciplines such as meteorology, geology and engineering. Companies are in a lookout for environmentally-savvy managers who can deliver energy efficiency, low carbon emission, smart buildings as well as sustainable business practices. Many of these corporations are willing to pay a premium to get out in front of the macro trend. Most of the current entry-level jobs demands academic qualifications like a bachelor’s degree in engineering or environmental fields or even a science-related graduate degree. If you can mix environmental management with a business degree, there is a lot of scope.
If you’re prospecting for work, bear in mind that there’s no environmental job gold rush yet but if you are the type to plan ahead, this is a career path destined for important things.
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