Skip to content
SJD Accountancy
Join Now
Join now
we're open, call us

0123456789

  • Contractor Services
    • Our Services
      • Accountancy Packages
        • Compare Services
        • Essential
        • Premium
        • Elite
      • Company Formation
      • Switching Accountant
      • Tax & Audit Services
        • Self Assessment
        • Questionnaires
      • Insolvency Services
      • IR35 Contract Reviews
      • Special Offers
    • Partner Services
      • Umbrella
      • Business Insurance
      • Contractor Mortgages
      • Wealth Planning
      • Health Insurance
      • IPSE Membership
      • Rewards
  • Contractor Resources
    • Contractor Library
    • Top Guides
      • The Contractor’s Guide
      • Limited or Umbrella. The Ultimate Guide
      • Complete Guide to IR35
    • Contractor Tools
      • Limited Company Name Generator
      • Compare Your Day Rate
      • Gender Pay Gap Tool
    • Contractor Calculators
      • Take home pay
      • IR35 calculator
    • Becoming a Contractor
      • Permanent to Contracting
      • How to contract
      • Contractor earnings
      • Contracting in the UK
      • Umbrella take home pay
      • Limited or umbrella
      • Contracting through an umbrella
      • FAQ’s for new contractors
    • Existing Contractor
      • Expenses
      • Taking money out your company
    • Financial Advice
      • Business banking
      • Contractor and business insurance
      • Contractor pensions
      • Contractor mortgages
      • Off-Shore
    • Understanding Legislation
      • IR35
      • Flat Rate VAT scheme
  • About
    • Company
      • About SJD
      • Contact us
      • Careers
      • Terms of Business
      • Terms & Conditions
      • Privacy Policy
    • News
  • Clients
    • Refer to SJD
    • SJD Online
Search Search

SJD Accountancy > News and Opinion > Uncategorized > Results of OPITO survey show ‘dramatic growth’ for Oil & Gas sector

SJD Accountancy > News and Opinion > Uncategorized > Results of OPITO survey show ‘dramatic growth’ for Oil & Gas sector

Results of OPITO survey show ‘dramatic growth’ for Oil & Gas sector

Author
Written by:Digital
Uncategorized
2 minutes
Published: December 15, 2018 Updated: January 16, 2019
  • Twitter
  • Facebook
  • LinkedIn
  • Email

OPITO, which was formerly known as the Offshore Petroleum Industry Training Organisation, commissioned the survey – which is the first of its kind – in association with Robert Gordon University in Aberdeen, which is at the heart of the UK’s oil & gas industry. According to the survey “Significant growth in activity within the UK’s Oil & Gas industry will create the need for more than 15,000 experienced workers to be added to the UK’s talent pool – which is great news for UK contractors who specialise in this area.

The pan-industry research found that 81% of companies expect to grow their business over the next five years, with 44% anticipating ‘significant growth’ in 2011. The survey also found that demand for appropriately skilled or experienced staff continues to outstrip supply with vacancies for both graduate and chartered engineers some of the hardest to fill. More than 110 companies across construction, drilling, engineering, geoscience, marine, science, inspection and operations sectors contributed to the survey. The majority are anticipating growth in the workforce in the next five years, with 12% expecting to take on more than 50 people in the next 12 months and 5% looking to recruit more than 200 in the same period. However, more than 50% said that ‘attracting appropriately skilled staff’ was the number one challenge in their ability to deliver their project opportunities – giving contractors a clear opportunity.

Commenting on the findings, OPITO Managing Director David Binnie said, “Capital spend on existing sanctioned projects will increase to £22billion over the next five years, potentially rising to £40billion. This expenditure is targeted around 33 new platforms, 12 major asset modifications and 40 subsea tie-backs. This is without a doubt a startling set of opportunities and our estimates suggest that over 15,000 new posts will be required over the next five years to deliver these project plans. Meeting that challenge and increasing the supply pool of experienced talent is critical if we are to avoid inter-company competition, costs inflation and the delay or cancellation of projects.”

For more information on Contracting in the Oil and Gas Sector, please visit:

  • Guide to becoming an Oil and Gas Engineer
  • Benefits of Becoming an Oil and Gas Engineer
  • Rates of Pay for Oil and Gas Engineers
  • Finding an Oil and Gas Contract with Wood Group, Hydrasun, Subsea7, Shell, Exxon Mobil and BP
  • Finding an Oil and Gas Contract with Cheveron Texaco, Worldmald Tyco, Technip, Talisman and Philip
  • Oil and Gas Engineers
  • Oil and Gas Contractors

Visit our Contractor News page for all other news. To discuss this story further visit our SJD Accountancy Blog

Related Articles

National Freelancers Day is Going Virtual
Uncategorized
Contractor News Roundup: March 2020
Uncategorized
What can contractors expect from the Conservative government?
Uncategorized
SJD Accountancy continues to drive new frontiers with new CEO appointment
Uncategorized
SJD Shortlisted in Contracting Awards
Uncategorized
Spring Statement 2019
Uncategorized

Back to top

Contact Us

  • 0123456789

Useful Links

  • Terms & Conditions
  • Recruiters
  • Privacy
  • Slavery Statement

New Business Hours

Monday - Thursday8:00 AM — 8:00 PM
Friday8:00 AM — 7:00 PM
Saturday10:00 AM — 4:00 PM
SundayClosed

Copyright SJD Accountancy 2021. All rights reserved. SJD Accountancy Ltd is a company registered in England & Wales. Company Registration Number 06277058.