Ride Out the Storm or Set a New Course: Tackling the Oil Industry Labour and Skills Crisis
Peter Parry1* and Raed Kombargi2
1Booz Allen Hamilton, UK
2Booz Allen Hamilton, UAE
Faced with a critical shortage of professionals in key technical and operational areas, oil and gas companies are bringing back retirees, tapping new sources for skills, looking to accelerate professional development, and raising sign-on fees to attract seasoned staff. As activity and investment in the petroleum sector continues to put huge strain on delivery capacity, the industry has been unable to keep pace with building its human resources. A combination of an ageing workforce, increasing workload, specialist skill requirements, limited supply of new graduates, and escalating people costs, suggests a perfect storm is brewing that will stall the growth ambitions of many.
AAPG Search and Discovery Article #90077©2008 GEO 2008 Middle East Conference and Exhibition, Manama, Bahrain