Uncovering The Greatest Challenges Of The Oil Industry

Flickr Picture

Despite leaps forward in technology and energy resources, as a society, we are still reliant on oil. That’s why every day of the year, there are workers out across the ocean, on rigs, getting the oil that we need. It’s a high paying job, particularly if you have the money to set up your own oil rig. You’ll certainly need a lot of it too, at least a few million. But even the workers are quite well paid in the oil industry. They should be, because their job isn’t exactly easy. Let’s look at some of the greatest challenges that this particular industry will present to a new business owner.

The Cost

It should come as no surprise that the cost of setting up, managing and running a rig is massive. That’s mainly because it requires massive pieces of equipment including hydraulic mechanisms. You then need to hire a huge number of skilled workers who will man and maintain the rig while you drill deeper down to get the precious material. It’s an estimated cost of six hundred million to set up an oil rig in the ocean. Most people don’t have that lying around. You would be better off waiting for an oil merchant to sell their rig and buying it off them. Even then, you’ll still be looking at spending an obscene amount of money.

Finding The Oil

If you’re fresh out of college with a degree in geography, you might have heard quite a lot of jokes about what you can do with this particular level of education. Well, it turns out quite a lot, and you’ll be making a fair bit of money from it as well. Oil companies are keen to hire skilled geographers who know their around a map and how to find new oil locations in the ocean and on land. Of course, you will have to have skills in chemistry as well, but these individuals are becoming more important for rig owners. They need to know where to drill and how far down to go.

Accidents And Dangers

There are plenty of dangers and accidents that you’ll need to prepare for when you are running an oil rig. A problem with the hydraulic equipment on the rig could easily cause an accident that could be fatal to your workers. That’s why you need to know a quick and effective, hose repair service that you can use. They’ll fix your hydraulic equipment for you, or provide you with the equipment that you need so that you can do it safely yourself.

A Lonely Life

Of course, perhaps the biggest challenge for rig managers is the isolation. Sure, you’ll be on a rig with hundreds of workers. But you’ll be away from family and the shore for long periods throughout the year. There is the benefit of long holidays when you come home, but it doesn’t quite make up for it.

Aside from that, it may not be the right time to start looking to invest in the oil industry. While experts are constantly finding new oil deposits, the fossil fuel is still running out. This is the greatest challenge facing oil workers today.