Millennials batting for career paths in oil/gas industry

HOUSTON, Texas – With most of the ‘baby boomers’ already gearing up for retirements, it is now the turn of the millennials and the Generation Z talents to take their place in the workforce especially in the oil and gas industry.

In a global survey unveiled by the Abu Dhabi National Oil Company (ADNOC) at the recently concluded CERAWeek, it was indicated that young science, technology, engineering and mathematics (STEM) talents have been showing interest to develop and flourish in their career paths in the petroleum sector.

Based on the survey result, nearly half or about 44-percent of STEM millennials and generation Zs “are interested to pursue a career in oil and gas.”

As unearthed, the factors that matter most to millennials and the Gen-Z high-fillers include salary, work-life balance, job stability, on-the-job fulfillment and a good work environment.

As the survey outcome has illustrated, “young STEM talent associate the oil and gas industry with high salaries and see it as an industry that is invaluable.” Chiefly, in their views, “the industry pays well,” and that “the industry is crucial for their country’s economy and development.” In synchronicity, the oil and gas sector is seen as “an industry we couldn’t live without.” They also perceive that most advancement in technology developments will impact significantly in the oil and gas sector.

However, that level of interest is still no match to the overwhelming preference that these young talents have been exhibiting in the technology sector – logged at an overriding 77-percent.

In unison, career preference in life sciences and pharmaceuticals turned out to be the second most appealing to them with 58-percent wanting to be in pharmaceuticals; and 57-percent in health care.

The global survey initiated by the Middle Eastern oil firm is part of its “Oil and Gas 4.0” initiative to ensure the industry’s ability and competency to advance into the world’s fourth industrial age.

The rest of the millennials and Gen Zs are attracted to build careers in marketing and advertising; hospitality; transport and logistics as well as retail industries.

According to ADNOC, the survey framework latches on interview with STEM students and young professionals aged 15 to 30 in 10 countries across continents – primarily North American, Europe, Asia and the Middle East.