Oil and Gas Industries to Start Recruitment
According to a recently conducted survey, year between 2014 and 2016 witnessed significant reduction of workforce in the oilfield service industry. However, there is some good news for the oil industry professional as service companies within the shale business are all set for Oil and Gas Recruitment Agencies. There is also news about starting this in offshore in later part of the year.
In the North American shale industry, hard hit with the lower activity levels took pace. Nabors Industries and Helmerich& Payne are two of the largest land drillers made announcement about reduction in staff which led to complete reduction of more than 50%. Almost 30 to 40% of the workforce was done by the Big Four. All of them are exposed to the US land market. On the contrary, companies having more exposure to the international market have modest reduction i.e. from 20-30%.
VP of oilfield service research at Rystad Energy, AudunMartinsen stated, “Among the top 50 service companies, around 300,000 workers or 35% of the work force were laid off since 2014. However, the negative trend is about to turn and over the last few months we have seen more job-postings in North America from companies such as Weatherford, Nabors and Precision Drilling, among others. In late March, Halliburton announced its plan to add 2,000 jobs to the pressure pumping and cementing business."
Generally, the offshore industry is considered quite hard nut to crack. However, there is huge reduction in the year 2016. The staff of FMC Technologies is minimized by 1,000 for cost cutting before the Technip-merger, whereas, Saipem also disclosed about 800 jobs reduction in Europe. With increment in E&P expenditure, there is expectation in enhancement in recruitment. Rystad Energy is also expecting that shale-focused operators must enhance their expenditure by 30% in the year 2017. On the contrary, offshore spending will increase from 2018, along with increased FID activity.