The oil and gas industry has a great impact on all aspects of our daily life.
Individuals, firms, and national governments make financial and policy decisions based on the cost, use, and availability of these two natural resources.
Conventional oil and gas refer to petroleum or crude oil and raw natural gas extracted from the ground by conventional methods. The two most fundamental aspects of the oil and gas industry are its operations and markets. Operations include exploring oil and gas fields, extracting natural resources and refining them. According to the market stage, the oil and gas industry can be divided into three major components namely upstream, midstream and downstream.
The upstream sector finds and produces crude oil and natural gas. The upstream is commonly known as the exploration and production (E&P) sector. It includes all activities related to searching, recovering and producing crude oil and/or natural gas from underground or underwater fields. This sector also covers drilling of exploratory wells and subsequently drilling and operating the wells that recover and bring the crude oil/or raw gas to the surface.
The midstream sector being the second of the three petroleum market stages processes, stores, and transports commodities. The mode of transportation of crude oil, natural gas, natural gas liquids (NGLs, mainly ethane, propane and butane) and sulphur is usually done through a pipeline, oil tanker, barge, truck or rail to the refineries. Gas treatment, LNG production and regasification of plants take place here. Midstream sector is usually considered as a part of the downstream sector.
The downstream sector is the last of the process and refers to the refining, processing and purifying of crude oil and natural gas.
It also involves marketing and distribution of products derived from crude oil and natural gas. This includes products such as petrol, gasoline, diesel oil, jet fuel, lubricants, heating oil, asphalt, waxes and a plethora of different petrochemicals. The downstream industry includes oil refineries, petrochemical
plants, crude oil merchandise distributors, retail outlets and natural gas distribution companies.
Oil and gas remain as an essential element for the manufacturing of products as well as for fuelling vehicles, heating building and producing electricity. It also provides great earning potential, travel opportunities and career progression. It is one of the most globalised energy industry with a lot of job opportunity. The rising demand for oil and gas in the national and international market has resulted in the oil and gas industries.
oil and gas jobs aren’t all regarding outlay months at a time on a rig.
In fact, just 6%of roles are based offshore and there is a lot of variety as well as opportunities for travel. Oil and gas sector supports more job opportunities with plenty of choices ( offshore, rig and office work). Oil and gas is a rewarding career choice. Job roles offered by this sector include drilling engineer, geochemist, mudlogger, a petroleum engineer and engineering geologist. Since economic growth is related to energy demand, the need for oil and gas is growing day by day.