Last Updated on September 9, 2022 by Ngefechukwu Maduka
Petroleum engineering is a degree that’s highly sought by oil companies, as these grads typically have solid backgrounds in both math and science. The oil industry is also hiring chemical engineers, geologists, and mechanical engineers. n oil and gas management degree is a graduate-level program that prepares individuals for a leadership role in petroleum exploration, production and trading. This MBA program teaches students about the dynamics of the oil and gas industry.
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bachelor in oil and gas engineering
An oil and gas management degree program can provide the foundation for a career in the industry. Read more below to learn about some of the courses you can take while earning this type of degree.
Oil and Gas Management Degree Program Options
Bachelor’s and master’s degree programs related to oil and gas management are available for those interested in the field. A bachelor’s degree program might include business, law, or economic coursework. Students can choose an area of concentration. Internships are encouraged, and many programs work closely with energy industry companies who sponsor students through scholarships and ensure coursework meets professional needs.
With an emphasis on global energy concerns, master’s-level programs prepare students to take on larger professional roles. In addition, many master’s students are often mid-career professionals looking to advance to executive positions.
Applicants for undergraduate degree programs must have a high school diploma or equivalent. Master’s degrees require a bachelor’s in a related field, standardized test scores, and may require professional experience.
petroleum engineering degrees
Bachelor’s degree programs in energy management or commerce that emphasize oil and gas are typically interdisciplinary and include coursework in business, law, economics, petroleum engineering and natural sciences. Degrees conferred may be a Bachelor of Science in Business Administration or Bachelor of Business Administration which takes four years to complete. These curricula also include general education courses such as composition, as well as math courses like calculus and statistics. Coursework for the major may include:
- Information technology
- Petroleum engineering
- Energy policy
- Energy industry financial reporting
- Petroleum land titles, records and management
Master of Science in Energy or Petroleum Management
Master’s programs in this discipline prepare students for executive and leadership roles in international petroleum exploration, production and trading. These programs take two years to complete. While some elective courses are offered, the curriculum may be less flexible than many other graduate degree programs because energy management often tailors coursework to specific industry needs. Programs offered within business schools will emphasize management and finance, while those offered within engineering schools will provide a more technical curriculum. Students in either program frequently work in teams to replicate the collaborative nature of energy industry employment and to facilitate knowledge sharing. Coursework may cover the following topics:
- Global energy issues and economics
- Renewable and alternative energy
- Accounting for global energy markets
- Finance and hedging strategies for global energy markets
- Leadership and decision-making
- Asset management
Popular Career Options
Oil and gas management professionals are involved in the business, financial and regulatory concerns of the energy industry. They may work in oil exploration, production or commodities trading and are often involved in land management. M.S. program graduates may be qualified for energy industry leadership roles in both private and public spheres. They may be employed by energy firms such as oil companies, government agencies or investment banks. Potential positions may include:
- Associate landman
- Management consultant
- Risk consultant
- Project manager
- Strategy consultant
oil and gas management salary
Employment Outlook and Salary Info
The U.S. Bureau of Labor Statistics (BLS) reported that all management occupations in the oil and gas extraction industry earned a mean wage of $163,880 in May 2019. That year the mean annual wages of general and operations managers in the oil and gas extraction industry were $160,330.
The BLS reported that petroleum engineers could expect a 3% growth in job opportunities during the 2019-2029 decade, with oil prices the main determinant. Petroleum engineers earned a mean salary of $156,780 in May 2019. Post-secondary engineering teachers/researchers overall earned an average salary of $112,110 during that same time.
Continuing Education Information
Students who work in land management may pursue professional certification from the American Association of Professional Landmen (AAPL). The AAPL awards the sequential Registered Landman (RL), Registered Professional Landman (RPL) and Certified Professional Landman (CPL) designations. Certification requires professional experience, sponsorship from three CPLs and passage of a comprehensive exam. The AAPL requires that those holding certifications renew it every five years through continuing education.
Graduate students who want to move away from oil and gas management to become researchers or college teachers may pursue a related doctorate, such as petroleum engineering. Candidates for the doctoral program without a degree in petroleum engineering may have to complete additional coursework in petroleum engineering, engineering science or geology. They may also have to pass a preliminary examination demonstrating proficient knowledge in petroleum engineering within a certain amount of time after admission to the program.
Individuals looking for an educational program in oil and gas management can complete a bachelor’s or master’s program which teaches a combination of petroleum engineering and business. Graduates of these programs may seek employment in oil and gas management or as petroleum engineers or educators.
What Is Covered in an Oil and Gas Management Degree Program?
An oil and gas management degree program is designed to provide students with the foundation for management careers in that industry. Read further to learn about some of the management, business and law courses that students take to earn this type of degree.
Business and Leadership Courses
Although many oil and gas management programs are located outside of the United States, some universities offer degree programs that are similar to the Master of Business Administration (MBA) with an emphasis in oil and gas management. This program could teach students about the business aspects of the oil and gas industry.
Students might be able to complete such programs in approximately one year with full-time attendance or about three years when attending part-time. There may also be opportunities for online study. Programs can be offered through the business schools of universities. As such, the curricula sometimes focuses on leadership.
An MBA in Oil and Gas Management program might include classes such as the following:
- Oil and gas law operations
- Leadership and communication
- Energy policy and environmental issues
- Petroleum economics
Important Facts About Oil and Gas Management Degree Programs
|Entry-Level Education||High school diploma with relevant work experience, specialized certificate possibly required|
|Work Environment||Shift work, offshore and onshore opportunities|
|Possible Careers||Field Service Technician, Vac Truck Driver, Pipeliner|
|Key Skills||Engineering or trade skills, such as electrician or welder|
|Median Salary (2019)*||$51,590 (Heavy Vehicle and Mobile Equipment Service Technicians)|
|Job Outlook (2019-2029)*||0% (Heavy Vehicle and Mobile Equipment Service Technicians)|
Source: *the U.S. Bureau of Labor Statistics (BLS)
best masters degree for oil and gas industry
A related program, such as the Master of Engineering in Oil and Gas Engineering Management, might emphasize business and economic issues. Students may learn about the technologies used in the oil and gas industries as well as effective ways to manage those technologies.
The program might offer classes such as:
- Production engineering
- Reservoir engineering
- Risk analysis
- Engineering evaluation
- Oil and gas management
Oil and gas together make up one of the core industries in today’s world. It has been instrumental in shaping the world as we see it today. As one of the six core industries, oil and gas has many opportunities that are waiting to be grabbed. The newer generation of professionals – both MBAs and engineers can leverage the opportunities in the ever-growing oil and gas industry.
So, even though there are numerous MBA branches to choose from – why should anyone pursue MBA in Oil and Gas Management? A country’s economic growth is highly dependent on the oil and gas sector. Considering that India’s economy is booming, a career in this field only makes more sense. There will always be a requirement for energy, and it’s currently on the rise.
Are you confused about selecting from the top MBA branches? Here are 5 reasons why pursuing an MBA in Oil and Gas Management can kickstart a career.
- The Demand is Phenomenal
Not just in India, Oil and Gas industry is among the biggest ones in the world. Be its petroleum, natural gas or renewable sector, the consumption is rising and is estimated to rise at 5 per cent or more every year. According to the data collected by the Petroleum Planning and Analysis Cell (PPAC) India, the consumption of petroleum products has increased from 12.9 MT (million tons) in 2014 to 15.2 MT in 2015. The increasing trend is sure to increase demand for professionals over the years to come.
- Lucrative Salaries
Oil and Gas is one of the highest paying industries in the country. Just as you finish your MBA, you are likely to get placed from the university itself. As a fresher in the industry, expect a salary of around 6-8LPA. The package offered is more than what other MBA branches offer. So, from a salary point of view, oil and gas management is a highly lucrative branch.
- Interesting Career Path
Without a doubt, there are many job opportunities in the oil and gas sector for management professionals. However, the career path is also exciting. Not only is MBA oil and gas management a highly versatile field of study, but professionals can also choose different paths in their careers. Students can choose their career path after pursuing MBA in oil and gas management. From operations to management, finance, sales, purchase and marketing – an oil and gas management professional is equipped to work in all domains.
- Lots of Learning Opportunities
Working in the oil and gas industry offers many learning opportunities. Since the oil and gas industry primarily has Fortune 500 companies, the exposure professionals get through their job is more than what they would anywhere else. Also, the functions are diverse, and MBA students work in numerous domains. There are also chances to work overseas that leads to a different kind of professional and cultural experience. Students are free to choose their career path and can learn a lot through the oil and gas industry. It gets more exciting when one day the work is on-site while the other day it’s on the desk.
- Stable Industry
Since the oil and gas industry is a core industry, it is highly stable as far as career goes. The demand is evergreen, and people who get into the industry often work in it throughout their lives. There are also no job cuts or layoffs as one would find in the IT sector. Students who are looking for an exciting yet stable career would find it with an MBA in oil and gas management. So, don’t be confused about the stability of oil and gas management. It is more stable than other MBA branches.
Oil and gas management is currently one of the most sought-after courses in not just India but the entire world. Since the industry indirectly supports other areas of the economy, its demand is certainly going to skyrocket further in the coming years. After pursuing an MBA in oil and gas management, professionals can work with various organisations in the same sector. Not only are there phenomenal job opportunities, but the career path also looks interesting. However, choosing a good university to pursue MBA in oil and gas management will make much difference. Esteemed universities like the Dehradun based University of Petroleum & Energy Studies (UPES) are known for their MBA in oil and gas programmes.