If you listen to the media, you’d think that the oil business was on the way out. Every day, there’s some new report about electric cars and solar panels, changing how humanity derives energy.
The reality, though, is a little different. While these technologies are on a declining cost curve and getting cheaper all the time, they’re not yet in a position to replace traditional fossil fuels. What’s more, they probably won’t be for some time yet.
The fossil fuel industry is one of the largest in the world, eating up a massive chunk of global GDP. People don’t often talk about it as a growth industry, but that’s precisely what it is according to www.energystartups.org/. Plus there are business opportunities here galore.
#1 Operations Management Software Development
Take operations management software, for instance. Oil companies have a challenging time, linking all aspects of their operations. They often hire people from all over the world, working in different locations. And sites of extraction are often in different time zones from HQ. It’s an administrative nightmare.
There are, however, plenty of opportunities to provide support services to the oil and gas industry. Sites like https://www.petrobase.io/pro/, for example, talk about how software is helping to streamline standard processes in the industry and help with overall operations management.
There are ample opportunities in this sector for other firms to get involved. The oil business needs bespoke services to help it find its feet in a complex and challenging marketplace. And it is relying on innovative, technically-minded people like you to come up with the solutions.
#2 Pipeline Services
Oil companies themselves don’t construct pipelines. Instead, they farm out the task to civil engineering companies with the equipment and the know-how to make it happen.
The weird thing is, though, that you don’t actually have to have tremendous expertise to land a contract. Building a pipeline isn’t as great a technical challenge as many people imagine.
Start by honing your skills by building other types of pipelines. Get all the necessary accreditation and then approach the oil business. They’re willing to pay fat checks to people with the ability and skills to get things done.
#3 Rig Safety Contractors
Perhaps you have expertise in safety. If so, you can get involved in this aspect of the oil business too.
As the Deep Horizons disaster made clear, extracting oil from the ground is a dangerous task and prone to error. Oil companies know that if they get it wrong, it’ll damage their reputation and wreck their brand. BP is still recovering in the Americas to this day!
Safety contractors and consultants offer their advice and services to oil companies to help them conduct their operations more safely. Their role is to inspect processes and make sure that companies have the right training and protocols in place to keep workers safe.
The great thing about this type of business is that start-up costs are low. You don’t need a mountain of capital to get operations off the ground. That’s a good thing.