Only three of the twelve oil companies interviewed still had research staffs, and two of these have significantly reduced research staffs as part of recent mergers. One research group offers services to the outside world in areas where the parent company does not compete, and thus behaves much like a service company. There are many Ph.D.s working in oil companies. While geologists become more generalized as they work towards a Ph.D., several oil companies felt that geophysicists became more specialized. I want to do research' is a near-fatal statement when interviewing.
Most jobs are in applying rather than in developing technology.
There is a need in service companies for the 'rainmaker'. Even with the current poor state of the oil business, there are numerous openings for geophysicists who can lead technology development in prestack migration, AVO, and reservoir characterization. Technology rainmakers appear to be well rewarded. Service companies are looking to new interdisciplinary Ph.D.s to help them generate new markets in reservoir characterization and exploitation geophysics. Familiarity with reservoir simulators is a plus.