Strong Salaries for Subsea, Pipeline and Drilling Engineers Reflect Thriving Oil and Gas Industry
15 March 2012
Salaries for oil and gas engineering professionals are reflecting an active and increasingly confident industry according to The Oil & Gas Global Salary Guide 2012.
The
Guide, which surveyed over 14,000 oil and gas professionals across the
globe found that subsea, piping and drilling engineers are commanding
the highest salaries of the 24 disciplines surveyed.
Drilling
engineers in particular have seen impressive year-on-year salary gains
with senior professionals now averaging salaries of US$98,000 per annum
while manager level staff earn US$142,500 equivalent. Subsea engineers
came out on top of all disciplines surveyed and can expect average
salaries of US$105,200 and US$146,900 respectively for the same levels
of skill and responsibility.
Reservoir and petroleum engineers
also commanded impressive salaries with senior level practitioners
earning an average pay packet of US$97,800 and manager level
professionals at US$123,400.
Matt Underhill, Managing Director
of Hays Oil & Gas, who produced the Guide with leading jobsite Oil
and Gas Job Search, comments: "It is very encouraging news for
engineering professionals as well as the industry itself as it reflects
the increasing levels of confidence and activity over the last year and
into 2012.”
Underhill adds: "These are figures for average
salaries across the world and there will be many highly skilled
engineering professionals earning considerably more, particularly those
in high paying countries such as Australia, the US and Norway. It is
also worth noting that around 40% of engineers are contractors, which
shows an industry that is bringing a wealth of new projects online.”
Duncan
Freer, Managing Director of Oil and Gas Job Search comments: "There has
also been a significant and welcome demand for graduate level engineers
which was not the case in recent years. Skills shortages have been a
major concern for the continuing health of the industry and this change
is a step in the right direction.”
While the general trend for
engineering specialisms has been upwards, there have been a few
exceptions within the core-engineering disciplines of electrical,
process and structural, all being relatively flat compared to last year.
Duncan Freer Managing Director of Oil and gas job search comments: "The general picture presented by the research shows an industry with renewed strength and vigour, offering attractive rewards and opportunities to engineering professionals across the globe.”
