Oil and gas jobs shortage “easing”

A shortage of jobs for skilled workers in the oil and gas sector earlier this year is “easing” according to an index of job opportunities posted online. The Hays Oil […]

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By Vicky Ellis

A shortage of jobs for skilled workers in the oil and gas sector earlier this year is “easing” according to an index of job opportunities posted online.

The Hays Oil & Gas Global Job Index revealed a strong third quarter in 2012 despite some “economic and seasonal headwinds” for the industry.

The global recruitment firm’s index charts the number of jobs posted on nine oil and gas portals around the world.

In October 2010, Hays set a benchmark of 1 from this date and all months after it are compared to this. The Index stood at 1.60 in September.

Matt Underhill, Managing Director of Hays Oil & Gas said: “The Index remained at a positive level, a shade off its all time peak in May 2012, which is welcome news and a positive indication of recruitment activity for the remainder of the year.”

He suggested the fall of some commodity prices has also taken the edge off many skills shortages.

Mr Underhill added: “Also boosting confidence and driving jobs postings in the quarter ahead will be the approach of the Northern Hemisphere’s winter, which will see built up stocks diminish, bolstering the oil price and driving confidence. There will also be a leadership change in China, which is widely thought to bring with it new economic investment.”

Competition for talent in Europe is “fierce”, according to Hays. Despite reducing oil and gas production in the UK, confidence in the oil and gas employment market is still generally high in the region, with job postings pushing the Index back over 2.00.

However the report notes an “aging workforce issue” in Europe as in North America, with a many meant to retire over the next 10 to 15 years.