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Aging Workforce |
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Have you considered your manpower decline curve? |
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The description of the declining output of a field is well known. However, one of the most frightening decline curves is not production--it's the availability of E&P manpower for future operations. By 2015 nearly half of today¡¯s E&P workforce in western countries will be over the age of 60.
Consider the data on the left ¨C do you know who will drive your company¡¯s growth in the future?
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Current E&P Workforce Availability (E&P staff under 60) |
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Help wanted: Oil jobs |
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The oil industry is scrambling to attract young workers as 80% of its aging workforce is headed for the door. |
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By Steve Hargreaves, CNNMoney.com staff writer
February 14 2008: 12:05 PM EST
HOUSTON (CNNMoney.com) -- The oil industry is on the edge of a huge labor crisis.
80% of its skilled workforce is expected to age out in the next ten years without eager, younger workers available to replace them¡
As a result of those layoffs, the sector is now scrambling to replace a huge number of skilled workers set to retire over the next decade...
For example, the number of students studying petroleum engineering dropped to 1,700 in 2004, down from 11,000 in 1993, according to a paper from the consultancy Booz Allen Hamilton¡
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Engineering under pressure |
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From: Offshore Engineer By: Jennifer Pallanich Monday, April 07, 2008
With an aging oil and gas population and a small candidate pool, the industry faces a talent squeeze. Jennifer Pallanich opens this month¡¯s review of recent developments in the area of offshore industry recruitment, retention and training with the findings of a recent Cera study projecting shortfall numbers in the engineering ranks and a look at how the industry plans to respond.
¡®We looked at the numbers we have, made an assessment based on SPE average age, what the average age of our workforce was, and how many people were near retirement,¡¯ explained Candida Scott, Cera¡¯s director of cost research. ¡®We looked at supply, and we looked at demand.¡¯
¡®Our modeling shows that unless there is a dramatic change in the industry, the next few years will experience a greater imbalance between needed and available staff,¡¯ said Pritesh Patel, study co-author and associate director of Cera¡¯s Capital Costs Analysis Forum. |
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Technology to aid in tackling skills shortage |
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Uchenna Izundu
International Editor
LONDON, Feb. 20 -- Technology will aid in improving the productivity of skilled labor as the petroleum industry struggles to attract and retain new recruits, International Petroleum Week delegates were told in London.
Encouraging new entrants to pursue petroleum careers would be tougher in the West, compared with Africa and Asia where the energy industry has a more acceptable public image and people compete for jobs in the industry. India and China in particular are producing thousands of graduates for the petroleum sector. "Most universities are still based in the West, but they need people who attend them to become technical leaders and innovators to bring in students from local areas," Rosand added. |
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| http://www.ogj.com/articles/article_display.cfm?ARTICLE_ID=320600&p=7 |
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