Is a Career in Oil and Gas Industry Feasible Post Petroleum Geosciences from IIT Bombay and MBA in Marketing and Finance?

With a strong educational foundation in both engineering and business, you have a unique profile that makes the oil and gas industry an appealing prospect. This industry, however, is currently facing challenging times. Here, we will explore the feasibility of pursuing a career in the oil and gas industry after completing Petroleum Geosciences from IIT Bombay and an MBA in marketing and finance.

Why the Oil and Gas Industry?

The oil and gas sector is a significant player in the global economy, and it offers various career paths beyond traditional engineering roles. Engineers with a specialization in petroleum geosciences can leverage their technical expertise to rise through the ranks from engineering positions to managerial roles. In fact, after several years of hard work and challenging experiences in the engineering domain, you may find the door open to lucrative managerial positions in oilfield services companies or other managerial roles. Your MBA degree can provide the necessary business acumen to excel in these managerial roles.

Current Challenges in the Oil and Gas Sector

The oil and gas industry is at a crossroads, and the last few years have been particularly challenging. The unprecedented drop in oil prices in 2014 and 2015 led to a series of negative impacts on the industry, including massive layoffs and retrenchments.

According to recent reports, the oil and gas sector is still grappling with the consequences of these past events. Many oilfield services companies and engineering, procurement, and construction (EPC) contractors have been forced to reduce their workforce significantly. These layoffs have often involved thousands of employees, with figures ranging from 3,000 to over 12,000 in some cases. Such significant job losses indicate that the industry is currently cautious in hiring new personnel.

Evaluating Your Options

Given the current hiring dynamics in the oil and gas industry, it is crucial to carefully evaluate your career options before jumping into this field. Here are some steps to consider:

Assess the Market: Stay informed about the current state of the oil and gas industry. Look for trends, industry predictions, and job market conditions. Explore Alternative Roles: Consider other roles within the oil and gas industry that might align more closely with your skills and experience. For instance, you could explore positions in exploration, production, or drilling operations. Evaluate Non-Oil and Gas Opportunities: If the internal oil and gas sector remains unattractive, it may be wise to explore other industries that offer similar managerial opportunities. Develop Additional Skills: Enhance your skill set through continuous learning and certification programs to make yourself more competitive in the job market. Build Your Network: Connect with professionals in the industry through LinkedIn, industry events, and conferences to stay updated and informed. Prepare a Strong Resume: Tailor your resume and cover letter to reflect your unique qualifications and experiences. Highlight your engineering expertise in petroleum geosciences and your business knowledge from the MBA program.

Conclusion

In conclusion, while your qualifications are well-suited for a career in the oil and gas industry, the current market conditions make it challenging to secure a job and remain employed for extended periods. It is essential to carefully assess your options and prepare thoroughly to navigate the challenges ahead.

By taking a strategic and pro-active approach, you can position yourself for success in the oil and gas industry or other related fields. Remember, the industry is cyclical, and over time, it will likely recover and present new opportunities.