After a tough four years new research shows that for the first time since 2014 the oil and gas industry expects more new jobs to be created than lost over the next 12 months.
Since the price of oil crashed in 2014 it is estimated that more than 440,000 jobs have been cut in the sector worldwide. However, with the price of oil having stabilized since July this year, new research by recruiter NES Global Talent and oilandgasjobsearch.com shows that almost 90 percent of employers expect staffing levels to either increase or remain the same in 2018.
The survey shows that almost 60 percent of employers expect to recruit significantly over the next 12 months. Of those, almost a quarter of employers expect to increase their workforce by five percent; almost a fifth expect to increase staffing by between five and 10 percent and more than a sixth by more than 10 percent.
Almost a third of employers expect staffing levels to remain the same and just 11 percent of employers expect to cut jobs.
Over 3,000 employers and almost 7,000 workers were surveyed.
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 organizations for the current levels of activity. With a stabilized 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.”