Over the next 12 months, the oil and gas industry expects more new jobs to be created than lost for the first time since 2014.
Since the price of oil stabilised in July this year, almost 90% of employers in the sector expect staffing levels to either increase or remain the same in 2018, according to research by recruiter NES Global Talent and oilandgasjobsearch.com
The survey shows that in total almost 60% of employers expect to recruit significantly over the next 12 months. Of those, almost a quarter (23%) of employers expect to increase their workforce by 5%; almost a fifth, (19%) expect to increase staffing by between 5% and 10%; and more than a sixth (17%) by more than 10%.
Almost a third (30%) of employers expect staffing levels to remain the same and just 11% of employers expect to cut jobs.
In total more than 3,000 employers and almost 7,000 workers were surveyed as part of the 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 recruiting 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.”
Alex Fourlis, managing director of Oilandgasjobsearch.com, said: “There is a sense of positivity throughout the guide the likes of which we haven’t seen since 2013 and can be read as an indication of a potential stabilisation of the oil market. This is key to kick-start projects that haven’t been viable for a while and will have a positive effect on job volume and salaries across the industry. Comparing the number of jobs posted throughout the industry YTD to the end of July vs the same period in 2016, there has been a 2% increase year on year with jobs from corporates up by 8%.”