Salaries in Energy Industry on Fire
The salaries of the most sought after professions in the energy industry reach new heights, according to an article published by Anne Feitz in France’s Les Echos.
Experienced drilling, geology and underwater exploration professionals earn average wages above $100,000. “Oil companies are managing stars these days!”, according to an industry specialist. The oil and gas industry now handles transfers that almost resemble those of football clubs.
Some qualifications are snapped up instantly. “An experienced geologist was recently recruited by Saudi company Aramco, with an immediate pay increase of 50%!” says Denis Florin, industry expert, associated with Lavoisier Council. Another example cited by Forbes, an experienced Australian metallurgist today earns more than $ 250,000 a year…
The average salary obviously masks significant disparities between occupations and countries. “We are lacking experts in technical fields such as drilling and geosciences: geologists, geophysicists, etc.”, said an industry specialist. There are countless companies with vital human resource requirements and that need to make new discoveries in order to offset the decline in their fields while supporting their existing production.
“Given the cost of exploring a well, which can exceed $100 million, a good geologist is worth its weight in gold,” says Denis Florin. Experienced drilling, geology or underwater exploration professionals, average wages well above $100,000, according to Hays.
Norway Tops Ranks
From a geographical point of view, Norway and Australia arrive at the top of the rankings, with respective local average salaries of $163,600 and U.S. $152,600, followed by New Zealand, the Netherlands and Canada.
But some countries are experiencing real price inflation. This is particularly the case in Australia, where large gas liquefaction projects have multiplied after the significant discoveries off the coast of the island. Current wages in that part of the world average $171,000 a year.