What is Bachelor of Science in Petroleum Engineering and Why Does it Pay So Much?
Petroleum is the most desired and also the highest priced commodity in the product. The structures and machinery of the modern age require petroleum to run and perform their functions. The resource however, is limited which makes it essential to extract and manage it efficiently. This is the reason why the demand for experts in field is huge and businesses are wiling to pay high wages for them. Completing a degree in Bachelor of Science in Petroleum Engineering is the fastest track towards entering the industry of petroleum. This industry is the richest in the world with several billions of dollars of profit each year. This is due to the fact that we consume oil at a daily basis either directly or indirectly.
Generous Salary Rates
The compensation is often the primary consideration in taking up a job. Few can match the level of compensation awarded to petroleum engineers. The starting salary for the profession is around $100,000 which is often higher than what companies are willing to pay for other professionals with decades of experience. Such engineers are also very rare so employers often provide them with numerous benefits and regular salary increments to make sure that they remain with the company. These staggering salary figures are the main reason why the number of students enrolling for the course has skyrocketed. Imagine being a novice and receiving a salary equal to that of several experts.
Exploration and Discovery
Exploration and search for unhampered oil reserves is the foremost concern of a person hire for his degree in Bachelor of Science in Petroleum Engineering. Oil is limited and current deposits being extracted today can run dry in just a few decades. This is why it is vital that new oil reserves be discovered. Without enough oil, modern society will not be able to function properly. After making sure that there are definitely massive amounts of oil on a location, the engineer’s work does not stop there. He should also be able to develop a safe, efficient, and reliable way to dig through the layers of rock and reach the core of the reserves. He should then formulate a means of extracting and storing the oil. These steps may require him to build a custom drilling or extraction machine or at least upgrade and modify existing ones.
Research and Development
Oil engineers can choose to practice the profession as researchers. Their primary focus would be studying the current methods and practices of locating, extracting, storing, transporting, and consuming petroleum with the hopes of finding better alternatives. R&D has gained more and more attention due to the globally growing awareness about the need for sustainability. At lot of focus is now being given to finding greener ways of handling petroleum. Not just oil but everything that has a connection with it should therefore be studied which is why such engineers should have at lease core knowledge of all sciences such as chemistry, physics, geography etc while also being knowledgeable in mathematics and statistics.
Quick Rate of Return
You can start earning huge figures after getting a bachelor’s degree which takes just five years. The degree will earn you the title engineer but you need to pass the License Exam before you can call yourself a certified engineer. Dealing with petroleum involves massive amounts of money which is why oil companies tend to be very careful. It is therefore heavily advised that you get your license first before looking for employment.