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Is Oilfield Services and Equipment A Good Career Path?

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Oilfield services/equipment is probably the least-understood career opportunity for people considering getting into the oil and gas industry.
According to Fortune Insights, the global oilfield services market size in 2019 was about USD 270 billion. Oilfield services, or OFS, companies perform many of the specialized drilling and production functions for the larger, more well known oil companies.

The oil companies don’t drill the wells.

There can be dozens of oilfield services/equipment companies on a drill site at any given time. The global OFS industry is dominated by a few large companies, including: Schlumberger, Halliburton, Baker Hughes, National Oilwell Varco, TechnipFMC, Weatherford International. However, there are thousands of companies in this segment that provide the services needed to successfully produce oil and gas.

Pay in the Energy Sector

“The median hourly wage for all energy workers in the US is 34% higher than the national hourly wage.” (USEER) Oil and gas have the highest average salaries at $94,000 in energy with power and renewables around $80,000. (GETI) Energy industry employees also tend to have better benefits healthcare and retirement benefits compared to national averages.

What are the best paying jobs in oilfield services and equipment?

The oilfield services/equipment industry offers a variety of high-paying jobs ($100,000+) for specialized engineering and project management roles. Entry-level jobs in OFS might include field technicians, drilling rig operators, leasehands, and roughnecks. In many of the larger companies there is also an opportunity for an international assignment. However, this segment is known to be highly volatile due to its sensitivity to fluctuating crude oil prices. Overall, a career in oilfield services/equipment is known to be lucrative, but can be demanding and require work in remote locations or challenging conditions.

Energy | Knowledge | Transfer

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