Oil and gas sector to see net gain in workforce in 2018

L Positive trend follows loss of estimated 440,000 jobs globally since downturn

global oil and gas industry may have turned a corner with more jobs set to be created than lost over the coming 12 months, according to new research.

Since the price of oil crashed in 2014 it is estimated that some 440,000 posts have been cut in the sector worldwide. More than 100,000 of these have disappeared in the North Sea.

However, with the price of a barrel of crude having stabilised in recent months, a survey by recruiter NES Global Talent and Oilandgasjobsearch.com – published today – reveals that almost 90 per cent of employers expect staffing levels to either increase or remain the same in 2018.

It marks the first time since the downturn that the industry expects more jobs to be created than lost on an annual basis.

The study shows that in total almost 60 per cent of employfile ers expect to recruit significantly over the next 12 months. Of those, almost a quarter – 23 per cent – anticipate increasing their workforce by 5 per cent; almost a fifth (19 per cent) expect to increase staffing levels by between 5 and 10 per cent, while more than a sixth (17 per cent) by more than 10 per cent.

Almost a third – or 30 per cent – of employers expect headcounts to remain the same and just 11 per cent expect to cut jobs.

NES Global Talent and Oilandgasjobsearch.com polled more than 3,000 employers and almost 7,000 workers as part of their Oil and Gas Outlook 2017 report.

Tig Gilliam, chief executive of NES Global Talent, said: “Globally we are now increasingly confident that themarketsupportsincreased 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 prothe 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 US shale, there has also been an uptick in capital projects being approved which will positively impact the industry across all regions.”

Alex Fourlis, managing director of Oilandgasjobsearch.com, added: “There is a sense of positivity… 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.” l About 200 jobs are under threat after a manufacturing company announced a proposal to shut its Northern Ireland plant.

Schlumberger, which constructs equipment used in the oil and gas industry, is to consult with unions and employeesabouttheproposedclosure of its plant in Newtownabbey. The firm blamed an ongoing slump in the sector.