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Oil and gas contractors set to enjoy surge in demand in 2011
Posted Mar 15, 2011
Oil and gas contractors are set to enjoy a boom year in 2011, with the demand for skilled workers set to grow by up to 60%, according to leading recruitment sources.
The Global Oil & Gas Workforce Survey for 2011, which was published this week, predicts that global salaries will grow significantly worldwide during 2011, particularly in core regions such as Europe which is seen as the "global go-to for technologically challenging design work."
The report says that the UK can look forward to an increase in worldwide project activity, which should keep London and Aberdeen design firms busy throughout the year.
"North Sea exploration and development, once the silverback of the industry, has undergone a complete revival with billions in investments pledged for the coming year."
Although the oil and gas industry was surprised by fewer than anticipated exploration licenses being awarded in a recent bidding round, this is not expected to reduce the demand for skilled workers in the industry in the UK.
Of all the contributors to the survey, 28% expect to see an increase in average salaries and rates during 2011 (72% expect no change) and 62% predict an increase in recruitment activity this year.
Contract rates for oil and gas contractors reportedly rose by 30% during 2010.
Ian Langley group chairman of Air Energi, who co-sponsored the survey, said,
"Some 2.5 million people are currently employed in the energy sector, producing 88.5 million barrels of oil per day and responsible for $490 billion in global exploration and production budget in 2011. In spite of these massive numbers or perhaps because of them, as we embark on what looks to be a very busy year, the focus has once again come down to the individual."
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