Companies go offshore for competitive advantages in law, labor, and cost of capital. Most offshore companies are formed in what is considered tax haven countries. It is important to note that an offshore company can be also established in a country with high tax rates.
Offshoring has acquired a bad reputation. Proponents of offshoring argue that it lowers costs and can save thousands of jobs by making struggling companies competitive again and avoiding their failure. Critics say that offshoring is nothing more than the flagrant exportation of U.S. jobs to foreign countries.
1. What offshore income is. Income is considered 'offshore income' if it comes from a territory outside the United Kingdom. It includes: wages, benefits or royalties earned outside the UK.
Top 10 Offshore Companies
- Royal Dutch Shell – Netherlands. Royal Dutch Shell is a global energy and petrochemicals producing company.
- BP – Britain.
- Toyota Motor – Japan.
- Sinopec – China.
- State Grid – China.
- AXA – France.
- China National Petroleum – China.
- ING Group – Netherlands.
Offshore construction is the installation of structures and facilities in a marine environment, usually for the production and transmission of electricity, oil, gas and other resources. It is also called maritime engineering.
Pro: Excellent Pay Scale
In the world of offshore oil drilling, the salaries for even entry-level positions range from $47,000 to $80,000 per year. When taking into account the fact that many workers only work six to nine months of the calendar year, the compensation for offshore positions is even more impressive.The term offshore refers to a location outside of one's national boundaries, whether or not that location is land- or water-based. A company may legitimately move offshore for the purpose of tax avoidance or to enjoy relaxed regulations.
More specialized jobs such as that of Driller is likely to make around $56,000 per annum, which Toolpushers, Drill Leaders and Supervisors are likely to earn around the US $75,000 – $100,000 mark per year. Entry level positions typically make between US $50,000 – US $80,000 per annum.
A roustabout is the first rung of the career ladder in the offshore drilling industry. Roustabouts perform all of the basic maintenance and heavy manual labor aboard an oil rig. If you want to pursue a career on offshore oil rigs, this will be your very first job title, especially if you have no experience.
Oil rigs often have means of communication. Cell phones can be used if there is a signal. Any rig within range would have cellular service. Off-shore rigs can also install microwave antennae, fiber optics, satellite dishes or a combination of any/all to provide communications services, including internet.
Roughneck: As a roughneck you will be a member of the drilling crew. Job responsibilities include long and physically demanding hours, cleaning the rig, maintaining drilling equipment, and helping with transports. The average salary is $34,680, however, roughnecks can make up to $51,550 per year.
The average salary for "oil rig workers" ranges from approximately $11.28 per hour for Crew Member to $26.75 per hour for Rigger.
Oil and gas professionals working on offshore platforms are highly in demand and earn hefty salaries. Image courtesy of cclark395. Offshore drilling consultants draw salaries as high as $305,000 a year.
If you are Looking for a job in an offshore oil rig in India. Then you must have completed petroleum engineering or Diploma in Oil and Gas Engineering. There are many institutes in India offering this course. This Course Is a short term (6 months) Diploma course covering in-depth about the oil and gas sector .
Becoming an Offshore Driller
- Graduate high school or earn a GED.
- Apprentice on a land rig for experience.
- Sign on as a roustabout.
- Get promoted to roughneck.
- Work your way up to pumpman, then derrickman.
- Secure an assistant driller position.
- Aim for rig manager or go back to college.
The 10 best paying offshore platform jobs
- Divers/helicopter pilots. $75,000 - 150,000.
- Marine engineers. $70,000 - $155,000.
- Tanker captain. $75,000 - $170,000.
- Workover or completion staff. $56,000 - $181,000.
- $65,000 - $183,000.
- Reservoir engineers/drilling engineers.
- Subsea/chemical process engineers.
- Production/maintenance supervisor.
Riggers who work in specialized jobs, such as rigger drillers will start out at about $56,000. Scaffold riggers, who assemble and disassemble scaffolding on the rig, earn about $57,000 annually. Rigger welders make about $62,000 per year.
While on the job, workers are required to wear hard hats, safety glasses, coveralls and safety boots. Interestingly enough, smoking is not banned on offshore oil rigs, but smokers must be careful to smoke only in the designated areas to avoid any explosions. The offshore rig offers a unique commute experience.
Salaries range from $100,000 to $200,000 a year, according to the American Welding Society. "Entry-Level Offshore Jobs" reports a starting salary of $80,000 for underwater rig welders, with $200,000 a year typical for experienced underwater welders.
A maintenance roustabout, the lowest level of rigger, makes about $47,000 per year. According to Riggersjobsoffshore.com, a network for finding offshore rigger jobs, a rigging roustabout trainee can expect to make $50,000 per year. After some experience, the salary can go up into the $60,000 per year range.
Deep water rigs float on large bunkers that can be filled and emptied of water as ballast. The bunkers are connected to the drilling platform with large columns which are hollow. The rigs have dynamic positioning systems, as well as anchoring webs which prevent catastrophic movement during storms.
In offshore operations, workers often work 7 to 14 days in a row, 12 hours a day, and then have 7 to 14 days off. For offshore rigs located far from the coast, drilling crew members live on ships anchored nearby or in facilities on the platform itself. One thing's for sure: You won't go hungry on an offshore rig.
How deep do Offshore Rigs drill? Depending on the rig type, offshore rigs are rated to drill in water depths as shallow as 80 feet to as great as 12,000 feet. The greatest water depth a jackup can drill in is 550 feet, and many newer units have a rated drilling depth of 35,000 feet.
The Life on an Oil Rig
Regular safety trainings are given before and during employment. The work designated to a rig worker usually falls on an 8-12 hour shift with breaks for food in the morning, noon and night. One might have to do night shifts since this industry operates 24 hours a day and 7 days a week.
