Oil and Gas Engineering Statistics


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Oil and Gas Engineering Statistics 2023: Facts about Oil and Gas Engineering outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Oil and Gas Engineering, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

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Top Oil and Gas Engineering Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 17 Oil And Gas Engineering Statistics on this page 🙂

Oil And Gas Engineering “Latest” Statistics

  • With Amazon OpenSearch Service, more than 30 million pages were processed with more than 98% accuracy..[1]
  • The energy employment sector employs over 4.6% of all Americans, a growth of 151,700 from 2017.[2]
  • According to the most recent data on employment in the energy sector, the industry was responsible for almost 7% of all new jobs created in the nation.[2]
  • Regarding gas, the fracking business produces more than two-thirds of the nation’s total gas output or 67%.[2]
  • Given that this business is global, it is not surprising that its size increased to 5,870.13 billion in 2021 at a compound annual growth rate CAGR of 25.5%.[2]
  • The government of Joe Biden advocated establishing a clean energy strategy that would result in the elimination of all oil and gas industry employment, which is equal to 6.5% of all jobs in the U.S.[2]
  • On the plus side, figures from the oil business show that the market will probably reach $7,425.02 billion in 2025 at a CAGR of 6%.[2]
  • In 2021, the size of the world’s oil and gas market is predicted to be 5,870.13 trillion dollars.[2]
  • The median pay is the wage estimate at the 50th percentile, meaning that 50% of employees earn less than the median and 50% of workers earn more than the median.[3]
  • Over the course of five years, from 2017 to 2022, the U.S. oil gas pipeline construction business had an average 4.2% rise in employment.[4]
  • According to a recent study by McKinsey titled Diversity Matters, businesses with the highest proportion of female executives are 15% more likely to have financial gains that are higher than the industry average.[5]
  • Compared to 22% in other stem fields and 20% throughout the whole corporate workforce, female involvement in O&G drops by 31% from entry-level to management jobs.[5]
  • Women make up just 14% of mechanical engineering graduates, although they major in computer science at a rate of 21% and chemistry at a rate of 47%, respectively.[5]
  • From VP to SVP, the overall percentage of women represented in the sector decreases by 38%, about twice as much as other STEM fields and corporate America as a whole.[5]
  • Compared to 41% in other STEM areas and 48% for the corporate sector overall, just a third of entry-level workers in the O&G industry are women.[5]
  • Based on an IDC energy study conducted in 2012 the use of big data and its applications in petroleum engineering was unfamiliar to 70% of the participants from U.S. oil and gas corporations.[6]
  • 81% of executives said that big data will be one of the top three objectives for the oil and gas industries.[6]

Also Read

How Useful is Oil and Gas Engineering

One of the key benefits of oil and gas engineering is its contribution to economic growth. The oil and gas industry is a major driver of economic activity, providing employment opportunities and generating revenue for governments around the world. Oil and gas engineers play a vital role in unlocking the potential of these resources, enabling countries to harness their energy reserves and fuel economic development.

Furthermore, oil and gas engineering is essential for ensuring energy security. As global energy demand continues to rise, the need for reliable and affordable sources of energy becomes increasingly important. Oil and gas engineers are at the forefront of developing innovative technologies to optimize production and minimize environmental impact, ensuring that energy resources can be accessed sustainably for future generations.

In addition to economic and energy security benefits, oil and gas engineering also contributes to technological advancement. The exploration and production of oil and gas require cutting-edge technologies and sophisticated engineering techniques. Oil and gas engineers are constantly pushing the boundaries of innovation, developing new tools and methods to extract resources from challenging environments such as deep-sea wells and unconventional shale formations.

Moreover, the expertise of oil and gas engineers extends beyond the realm of fossil fuels. In recent years, the industry has made significant strides in incorporating renewable energy sources such as solar and wind power into its portfolios. Oil and gas engineers are well-positioned to leverage their technical skills and knowledge to drive the transition towards a more sustainable energy future.

Despite the numerous advantages of oil and gas engineering, the industry also faces its fair share of challenges. Environmental concerns surrounding the extraction and consumption of oil and gas have gained increasing prominence in recent years. Oil spills, air pollution, and greenhouse gas emissions are just some of the environmental issues that the industry must confront. As stewards of the Earth’s resources, oil and gas engineers have a responsibility to prioritize sustainability and explore alternative energy solutions.

In conclusion, oil and gas engineering is a critical and indispensable field that underpins our modern way of life. The benefits of oil and gas engineering are far-reaching, from driving economic growth and ensuring energy security to promoting technological innovation and environmental stewardship. As the industry continues to evolve in response to changing energy dynamics and environmental concerns, oil and gas engineers will play a crucial role in shaping the future of energy production and consumption.

Reference

  1. amazon – https://aws.amazon.com/blogs/apn/cognitive-document-processing-and-data-extraction-for-the-oil-and-gas-industry/
  2. goremotely – https://goremotely.net/blog/oil-and-gas-industry-employment-statistics/
  3. bls – https://www.bls.gov/oes/current/oes172171.htm
  4. ibisworld – https://www.ibisworld.com/industry-statistics/employment/oil-gas-pipeline-construction-united-states/
  5. mckinsey – https://www.mckinsey.com/industries/oil-and-gas/our-insights/how-women-can-help-fill-the-oil-and-gas-industrys-talent-gap
  6. sciencedirect – https://www.sciencedirect.com/science/article/pii/S2405656118301421

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