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

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.

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