Some people have been analyzing if an MBA is still worth having. The simplest answer is a resounding yes. With the energy field in such a flux and in need of addressing issues relating to the environment and climate, companies are looking for individuals who are on the cutting edge of the field, ready to evaluate and provide viable options to keep companies diversified and at the forefront of development, management, exploration, and more.
If you’re looking to become more than “just an engineer”, want to gain the knowledge it will take to expand on your current managerial role, including moving up into a higher paying position, or even just want to look at different areas of specialization, now is the time to do so and an Oil & Gas MBA will move mountains in helping you meet your professional goals.
What type of professional should consider an Oil & Gas MBA?
- Energy company executives
- Internationally employed professionals
- Technicians looking to move into a managerial position
What will you study?
While programs may vary slightly from program to program, there are definitely certain courses you can expect will be included in your Oil & Gas MBA studies. These include:
- Financing and Management Accounting
- People Management and Organizational Development
- Energy Marketing Oil & Gas Management
- Environmental Management Strategies
- Oil & Gas Economics
- Operations Management
- Energy Policies and the Environment
- Oil & Gas Contract Law
While this list doesn’t cover everything you may study, it does give you a good idea of the grounds you’ll cover after settling on a specific program. Later in your studies, you can fully expect to be getting hands on work training via team based projects that will count for a major portion of your studies. In fact, you will find that there will be many occasions where you will be working alone or as part of a team to cover case studies, presentations, discussions, and more. In a full-time program, you can expect to attend a number of lectures, seminars, and workshops while taking advantage of the ability to meet and get to know professionals in the field from all around the world.
Schools offering Oil & Gas MBAs
In the United States:
- The University of Texas at Austin McCombs School of Business, with a concentration in energy finance administered by the Center for Energy Finance Education and Research is a program wholly unique from all other higher ranking business schools.
- Rice University’s Jesse H. Jones Graduate School of Management is located in Houston and boasts a recruiting relationship unlike any other school, sharing the city with several major energy firms, ConocoPhillips, ExxonMobil, and Chevron.
International Oil & Gas MBA Programs:
- Masters of Science in International Management (Oil and Gas) – University of Liverpool – 100% Online! – Our MSc in International Management with a specialised track in Oil & Gas involves a systematic understanding of the theory and practice of general management, and the elementary economic patterns of the oil and gas industry, in the context of today’s global economy. It will give you a sound theoretical grounding in a broad range of business and management issues and help you develop a range of analytical and personal skills. Modules include Strategic Organisation, Managing Finance and Economics of Oil, Gas and Energy.
- Masters of Science in Operations and Supply Chain Management (Oil and Gas) – University of Liverpool - 100% Online! - Our MSc in Operations and Supply Chain Management with a specialised track in Oil & Gas will enable you to fundamentally grasp the economic nature and structure of the oil, gas and energy sectors and explore the intricacies associated with sourcing energy, energy distribution, and sustaining energy supply chains. This track offers a theoretical and practical examination of the factors necessary for effective operations and supply management in today’s global and highly competitive markets. Modules include Strategic Operations Management, Economics of Oil, Gas and Energy, and Managing Energy Sources.
- Masters of Science in Project Management (Oil and Gas) – University of Liverpool - 100% Online! - Our MSc in Project Management with a specialised track in Oil & Gas examines the economic nature and structure of the oil, gas and energy sectors, provides the skills necessary to deliver advanced project management, and dissects all fundamental project management disciplines and phases. Modules include Introduction to Project Management, Economics of Oil, Gas and Energy, and Managing Energy Sources.
- The Oil & Gas MBA program offered through the Aberdeen Business School in Scotland is ideal for those candidates who are serious about broadening their roles in the offshore oil and gas industries.
- The University of Dundee in Scotland offers an International Oil & Gas MBA program
- London’s Cass Business School offers an EMBA program through its Dubai branch
- The Stockholm School of Economics campus located in St. Petersburg, Russia
- The University of Alberta School of Business offers the Energy and Natural Resources MBA program
While this is a degree that anyone interested in the field could pursue, the candidates who would most likely benefit from this degree include though with some previous knowledge or experience in an energy related field. And, with energy use expect to double in countries like China and India along by the year 2030, the need for skillfully trained professionals will only become greater as world demand for energy continues to increase. Jobs prospects in both renewable and non-renewable energy sectors, as stated earlier, are good and expected to remain optimistic for the foreseeable future with salaries ranging from the mid-50′s to over $100,000 annually to start.