An extensive report conducted by NES Global Talent and oilandgasjobsearch.com shows that after a difficult four years, the oil and gas industry expects more new jobs to be created than lost over the next 12 months. This pattern demonstrates a recovery in employment in the sector for the first time since 2014.
The report says that more than an estimated 440,000 jobs have been cut worldwide since the price of oil crashed in 2014. However, with the price of oil stabilising the research by recruiter NES Global Talent and oilandgasjobsearch.com shows that almost 90% of employers expect staff levels to increase or constant throughout 2018. The industry review highlights that almost 60% of employers expect to recruit significantly over the next 12 months. Of this 60%, 23% expect to increase their workforce by 5% whilst 19% expect to increase staffing by up to 10%. Even more encouraging is that 17% of respondents expect to increase staff levels by more than 10%. A significant number of respondants (30%), expect employment figures to remain constant with just 11% projecting job losses.
In total NES Global Talent and oilandgasjobsearch.com surveyed more than 3,000 employers and almost 7,000 workers as part of their Oil and Gas Outlook 2017 report.
Tig Gilliam, CEO of NES Global Talent, said: “Globally we are now increasingly confident that the market supports increased investment in the energy sector. Energy companies with the support of their partners have right-sized their organisations for the current levels of activity. With a stabilised price environment and lower cost profile more and more assets offer attractive returns on investment and operations. This increasing activity is leading the higher performing companies to refocus on quality people to lead and deliver value.”
“While this activity is being led by a sharp increase in investment in U.S. shale, there has also been an uptick in capital projects being approved which will positively impact the industry across all regions. With our own staff operating in over 60 countries, the increasingly positive tone of our clients and contractors is a welcome signal of the turnaround in the market and the participants in this survey echo that sentiment.”
