Are you looking to add Oil and Gas Engineering to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Oil and Gas Engineering statistics of 2024.
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On this page, you’ll learn about the following:
Best Oil and Gas Engineering Statistics
☰ Use “CTRL+F” to quickly find statistics. There are total 46 Oil and Gas Engineering Statistics on this page 🙂Oil and Gas Engineering Market Statistics
- The global oil and gas market size is estimated to reach $5,870.13 billion in 2021. [0]
- On the bright side, oil industry statistics demonstrate that the market will most likely reach $7,425.02 billion in 2025 at a CAGR of 6%. [0]
Oil and Gas Engineering Latest Statistics
- Architecture and Engineering Occupations PRINTER FRIENDLY Employment in architecture and engineering occupations is projected to grow 6 percent from 2020 to 2030, about as fast as the average for all occupations. [1]
- The number of people employed in the Oil & Gas Pipeline Construction industry in the US increased 0.1% on average over the five years between 2017 and 2024. [2]
- The same summary projects there will be 3% job growth in this field from 2019 to 2029. [3]
- According to the 5th annual Global Energy Talent Index report, 78% percent of oil and gas employees feel less secure in their jobs than they did a year ago. [4]
- Hiring managers share this anxiety, with 77% worrying that their employees’ jobs are less secure than they were a year ago. [4]
- Last year, 43% of professionals reported that their salary had remained static, and 24% said theirs has decreased by more than 5%. [4]
- This is backed up by GETI survey responses from hiring managers 34% of whom said that salaries had remained the same as the previous year 22% agreeing that salaries decreased by over 5%. [4]
- Despite some salary decreases last year, both employees and hiring managers are confident that salaries won’t decrease further in 2021 32% of professionals and 30% of hiring managers expect pay to remain the same. [4]
- Many workers are confident of a rebound and recovery 31% of professionals expect a pay rise of more than 5%. [4]
- 29% of hiring managers also believe pay rises are on the way. [4]
- Though the number of oil and gas professionals unwilling to move for work is low (11%). [4]
- 10% said that the opportunity to move simply doesn’t exist, which is an unusual notion for the sector. [4]
- Only 4% of GETI survey respondents said that their company offers help with relocation, so it could be that fewer are willing to pay the costs associated with relocating. [4]
- That said, more than half (52%). [4]
- With 42% of professionals citing career progression opportunities as the main reason for relocating to work, oil and gas firms must make sure that there are plenty of chances for progression available for their workers. [4]
- The 2021 GETI report reveals that 77% of oil and gas employees would consider changing their employment status within the next three years 50% move to a permanent staff position. [4]
- 44% would move to a contractor role and 6% who would consider retirement in the near future. [4]
- However, of the 79% of employees who would move to a different sector within the next three years, only 11% cited job stability as the reason. [4]
- The biggest factor influencing this decision was opportunities for career progression (35%). [4]
- Workers in the oil and gas industry already feel as though the events of 2020 have resulted in a ‘new normal’ for the sector, with 86% believing that this is the case or will be in the near future. [4]
- Just 14% said they expect things to go back to the way they were before the pandemic. [4]
- What is encouraging to see is that the majority (56%). [4]
- What’s more, workers are still optimistic about the sector, with 64% of survey respondents expecting growth over the next three years. [4]
- 34% are quite worried about this and 25% are very worried, compared to 22% who are unsure, 12% who are not worried at all and 6% who are not very worried. [4]
- However, according to the Deloitte 2021 Oil and Gas Industry Outlook , the pandemic and the oil downturn have accelerated long term trends like digital transformation and energy transition, rather than pausing them. [4]
- According to part 395 of the Code of Federal Regulations title 49 , drivers of vehicles that are used exclusively to service oil and gas wells are not required to count waiting time at the well site toward their on. [5]
- 51% of the oil produced in the US comes from the hydraulic fracturing industry. [0]
- According to the study, the occupations sustained by this industry have seen an increase of 500,000 new employees since 2011. [0]
- Joe Biden’s administration proposed introducing a clean energy plan that would cause the disappearance of all the oil and gas sector’s employment, an equivalent of 6.5% of the US’s total jobs. [0]
- As this is an international sector, it’s not shocking that the oil and gas industry’s size grew to $5,870.13 billion in 2021, at a compound annual growth rate of 25.5%. [0]
- According to the latest data from 2019, this industry constitutes around 4.6% of the overall American workforce, an increase of 151,700 over 2017. [0]
- According to the latest energy sector employment statistics, this sector accounted for creating roughly 7% of all new jobs in the country. [0]
- According to Glassdoor, the annual salaries can range as high as $105,000 and as low as $26,000. [0]
- According to the US Energy Information Administration, the number of hydraulically fractured wells rose to about 300,000 by 2015. [0]
- The production from those wells currently accounts for around 51% of the total oil manufacturing in the US. [0]
- As for gas, the fracking industry provides over two thirds, constituting 67% of the entire nation’s gas production. [0]
- According to oil and gas industry employment statistics for 2020, the most extensive area of interest is the Niobrara Shale play, which is responsible for a large portion of the state’s jobs. [0]
- So far, investment by oil and gas companies outside their core business areas has been less than 1% of total capital expenditure. [6]
- As things stand, leading individual companies spend around 5% on average on projects outside core oil and gas supply, with the largest outlays in solar PV and wind. [6]
- As of today, 15% of global energy related GHG emissions come from the process of getting oil and gas out of the ground and to consumers. [6]
- Within ten years, these low carbon fuels would need to account for around 15% of overall investment in fuel supply. [6]
- Production from existing fields declines at a rate of roughly 8% per year in the absence of any investment, larger than any plausible fall in global demand. [6]
- According to Indeed.com, the highest paying engineering job in the U.S. in 2020 was petroleum engineer, with an average annual salary of $94,271. [7]
- Meanwhile, according to the U.S. Bureau of Labor Statistics , the median pay for petroleum engineers was $137,720 per year in May 2019. [7]
I know you want to use Oil and Gas Engineering Software, thus we made this list of best Oil and Gas Engineering Software. We also wrote about how to learn Oil and Gas Engineering Software and how to install Oil and Gas Engineering Software. Recently we wrote how to uninstall Oil and Gas Engineering Software for newbie users. Don’t forgot to check latest Oil and Gas Engineering statistics of 2024.
Reference
- goremotely – https://goremotely.net/blog/oil-and-gas-industry-employment-statistics/.
- bls – https://www.bls.gov/ooh/architecture-and-engineering/home.htm.
- ibisworld – https://www.ibisworld.com/industry-statistics/employment/oil-gas-pipeline-construction-united-states/.
- wikipedia – https://en.wikipedia.org/wiki/Petroleum_engineering.
- airswift – https://www.airswift.com/blog/oil-and-gas-industry-employment-statistics.
- cdc – https://www.cdc.gov/mmwr/preview/mmwrhtml/mm5716a3.htm.
- iea – https://www.iea.org/reports/the-oil-and-gas-industry-in-energy-transitions.
- mines – https://gradprograms.mines.edu/blog/oil-and-gas-a-diverse-and-resilient-industry/.
How Useful is Oil and Gas Engineering
One of the main reasons why oil and gas engineering is so essential is due to the sheer amount of energy it provides. Oil and gas are energy-dense fuels that can be easily transported and stored, making them highly versatile and reliable sources of power. From gasoline for cars to natural gas for heating, these resources are indispensable for modern society’s functioning.
Furthermore, oil and gas engineering also plays a significant role in the global economy. The extraction, processing, and transportation of oil and gas provide jobs for millions of people worldwide, contributing to economic development and prosperity. Moreover, the revenue generated from the industry is crucial for funding government services and infrastructure projects.
In addition to its economic benefits, oil and gas engineering also plays a critical role in technological innovation. The industry is constantly pushing the boundaries of engineering and scientific knowledge to extract oil and gas from increasingly challenging environments. From deep-sea drilling to hydraulic fracturing, engineers are constantly developing new technologies to improve efficiency and minimize environmental impact.
Despite its importance, the oil and gas industry has faced criticism for its environmental impact. The extraction and combustion of fossil fuels release greenhouse gases into the atmosphere, contributing to climate change. However, many oil and gas companies are investing in research and development to mitigate their environmental footprint. From carbon capture and storage to renewable energy projects, these companies are working towards a more sustainable future.
Oil and gas engineering also plays a crucial role in national security. Countries that have abundant oil and gas reserves are less dependent on foreign imports, reducing their vulnerability to supply disruptions and geopolitical tensions. By developing domestic sources of energy, governments can ensure energy security and sovereignty.
In conclusion, oil and gas engineering is a highly useful and indispensable field that powers our modern world. From driving economic growth to technological innovation, this industry has shaped the way we live and work. While there are environmental challenges to address, the industry’s commitment to sustainability and innovation will ensure its continued relevance in the future.
In Conclusion
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