Bachelor's and master's degree programs related to oil and gas management are available for those interested in the field. A bachelor's degree program might include business, law, or economic coursework. Students are able to choose an area of concentration. Internships are encouraged, and many programs work closely with energy industry companies who sponsor students through scholarships and ensure coursework meets professional needs.
With an emphasis on global energy concerns, master's-level programs prepare students to take on larger professional roles. In addition, many master's students are often mid-career professionals looking to advance to executive positions.
Applicants for undergraduate degree programs must have a high school diploma or equivalent. Master's degrees require a bachelor's in a related field, standardized test scores, and may require professional experience.
Bachelor's Degree in Energy Management or Commerce
Bachelor's degree programs in energy management or commerce that emphasize oil and gas are typically interdisciplinary, and include coursework in business, law, economics, petroleum engineering and natural sciences. Degrees conferred may be a Bachelor of Science in Business Administration or Bachelor of Business Administration which takes four years to complete. These curricula also include general education courses such as composition, as well as math courses like calculus and statistics. Coursework for the major may include:
- Information technology
- Petroleum engineering
- Energy policy
- Energy industry financial reporting
- Petroleum land titles, records and management
Master of Science in Energy or Petroleum Management
Master's programs in this discipline prepare students for executive and leadership roles in international petroleum exploration, production and trading. These programs take two years to complete. While some elective courses are offered, the curriculum may be less flexible than many other graduate degree programs because energy management often tailors coursework to specific industry needs. Programs offered within business schools will emphasize management and finance, while those offered within engineering schools will provide a more technical curriculum. Students in either program frequently work in teams to replicate the collaborative nature of energy industry employment and to facilitate knowledge sharing. Coursework may cover the following topics:
- Global energy issues and economics
- Renewable and alternative energy
- Accounting for global energy markets
- Finance and hedging strategies for global energy markets
- Leadership and decision-making
- Asset management
Popular Career Options
Oil and gas management professionals are involved in the business, financial and regulatory concerns of the energy industry. They may work in oil exploration, production or commodities trading and are often involved in land management. M.S. program graduates may be qualified for energy industry leadership roles in both private and public spheres. They may be employed by energy firms such as oil companies, government agencies or investment banks. Potential positions may include:
- Associate landman
- Management consultant
- Risk consultant
- Project manager
- Strategy consultant
Employment Outlook and Salary Info
The U.S. Bureau of Labor Statistics (BLS) reported that all management occupations in the oil and gas extraction industry earned a mean wage of $167,050 in May 2018. That year the mean annual wages of general and operations managers in the oil and gas extraction industry were $174,780.
The BLS reported that petroleum engineers could expect 3% growth in job opportunities during the 2018-2028 decade, with oil prices a main determinant. Petroleum engineers earned a mean salary of $156,370 in May 2018. Post-secondary engineering teachers/researchers overall earned an average salary of $113,680 during that same time period.
Continuing Education Information
Students who work in land management may pursue professional certification from the American Association of Professional Landmen (AAPL). The AAPL awards the sequential Registered Landman (RL), Registered Professional Landman (RPL) and Certified Professional Landman (CPL) designations. Certification requires professional experience, sponsorship from three CPLs and passage of a comprehensive exam. The AAPL requires that those holding certification renew it every five years through continuing education.
Graduate students who want to move away from oil and gas management to become researchers or college teachers may pursue a related doctorate degree, such as petroleum engineering. Candidates for the doctoral program without a degree in petroleum engineering may have to complete additional coursework in petroleum engineering, engineering science or geology. They may also have to pass a preliminary examination demonstrating proficient knowledge in petroleum engineering within a certain amount of time after admission to the program.
Individuals looking for an educational program in oil and gas management can complete a bachelor's or master's program which teaches a combination of petroleum engineering and business. Graduates of these programs may seek employment in oil and gas management or as petroleum engineers or educators.