Oil industry has good opportunities

Dubai: For years, oil and gas companies around the world have been facing a dearth of new talent entering the industry. But while manpower remains one of the biggest challenges, things are looking brighter for firms based in the Middle East.

That is according to job search firms in the region that claim that they are seeing an increase in the number of skilled candidates seeking to join the energy industry.

Oil and gas recruitment suffered a blow in the 1980s and 1990s when companies declared hundreds of thousands of workers redundant.

The massive layoffs, partly triggered by falling oil prices, resulted in a major decline in the number of students taking petroleum-related undergraduate courses.

According to Dr Pierce Riemer, director-general of the World Petroleum Council, 50 per cent of the existing workforce is about to retire in the next ten years, and the oil and gas industry now faces a massive challenge to attract enough qualified people.

"Who will be replacing the expertise that is leaving the industry? Not only does the industry have to deal with its environmental and societal reputation, but it also has to face the large reduction in young people choosing sciences for their career," Riemer wrote in the World Petroleum Council Yearbook 2010.

Pressing issue

Mark Guest, managing director of OilCareers.com, the international job board for the oil and gas industry, confirmed that manpower is indeed a pressing issue.

"The talent pool has been shallow as the workforce in the oil and gas industry has traditionally been an ageing one, with it being difficult to encourage the younger generation to get involved and continue to climb the career ladder," Guest told Gulf News.

"However, we believe that this is changing, with regions such as the Middle East offering attractive packages for young engineers looking to develop their knowledge and experience."

Guest said that the UAE is becoming one of the hotspots for recruitment, given the number of ongoing and upcoming projects. In January there was a 30 per cent increase in the number of applications compared with the year to date.

Job search company Bayt.com shared the same observation, citing that in 2009, its website attracted thousands of applicants seeking to fill vacancies in the oil and gas sector.

"We have not really seen any shortage in CVs for qualified engineers and business professionals in the oil and gas industry. In fact, last year alone, we added well over 55,000 CVs in the oil and gas industry to our database. And today, we have a jobseeker community of over 410,000 dedicated professionals in the [sector]," said Amer Zureikat, vice-president for sales at Bayt.com.

"The mature, well-paying and well established oil and gas conglomerates have ensured the region largely remains a destination of choice for veterans of the industry from across the globe and it's certainly a highly desirable industry for fresh graduates choosing a career path from the region as well."

Zureikat brushed aside the idea that the Middle East is struggling to attract highly skilled individuals from other countries.

"We see no shortage of top talent from across the region and beyond looking to relocate to the Middle East, as our polls and surveys confirm."

Big jump in new projects this decade

Dubai: This year will be a busy time for the region's oil and gas companies, as they are set to embark on several new projects. What this means for the industry is that more manpower on the ground is required to deliver the work.

As a result, OilCareers.com is anticipating an increase of 60 per cent in hires in the first half of 2011. Mark Guest, the company's managing director, said the niche sectors such as geosciences, marine, diving and ROV (remote operated vehicle) operations are all currently areas of growth.

"The Middle East, and namely the UAE, is expected to be something of a project hub in 2011 and for those in highly skilled positions, the opportunity, challenge and remuneration benefits are substantial," added Ian Langley, group chairman of Air Energi.

A research paper by Kuwait Financial Centre (Markaz) noted that the value of petroleum projects planned across the region as of last month stood at $726 billion, an increase of $10 billion since January.

The number of planned projects over the next decade in the GCC has also significantly increased over the last year. "The number stands at 684 projects compared to 637 in the first quarter of 2010."

The recent Bayt.com Middle East Job Index showed that 56 per cent of Middle East employers in the oil and gas industry are looking to hire new staff this year. About 35 per cent are most likely to fill junior executive positions, while 33 per cent are looking to hire executive staff.

Coordinator positions are also being considered by 28 per cent of employers.

"Qualifications that are most in demand by employers in Middle Eastern oil and gas industry today are graduate or post-graduate degrees in engineering, followed by graduate or post-graduate degrees in business management," said Amer Zureikat of Bayt.com.

Salaries in the oil and gas industry are among the most competitive, as companies strive to attract and retain the best talent. Zureikat said about 19 per cent of oil and gas workers are currently earning $5,000 a month.

More attractive packages await oil and gas employees this year. As highlighted by a joint report from OilCareers.com and Air Energi, salaries are set to increase throughout 2011.

There are currently 2.5 million people working in the energy sector, producing 88.5 million barrels of oil daily and responsible for $490 billion in global exploration and production budget this year.