Some 2.5 million people are currently employed in the [global] energy sector, producing 88.5 million barrels of oil per day and responsible for a US$490 billion in global exploration and production budget in 2011, according to a recent survey.
And yet, the Middle East remains the centre of oil and gas jobs according to a recent forecast of job and recruitment portals.
OilCareers.com, the oil and gas-focused CV database portal, found that salaries for oil and gas jobs are projected to increase in 2011 after massive payroll cuts during the last two years.
“The prediction for an employee’s bank balance is positive; with zero salary decreases anticipated in the first half of 2011,” managing director Mark Guest told Pipeline.
Hiring in the Middle East will remain strong as expansion projects continue, on the back of the triple-digit oil price. Guest estimates that recruitment is predicted to increase 60 per cent, with 20 per cent of the industry set to expect an increase in salary to boot.
Meanwhile, Hays Recruitment, a global recruitment specialist, projects the Middle East will be a key focus for half the industry over the next 12 months, ahead of other regions around the world, including Africa and East Asia.
In its recent salary survey, fifty per cent of respondents identified the Middle East as a key focus for their operations – signifying the strengthened confidence in the market and a sure sign that demand for skills will boom in 2012.
“With oil prices on the increase, confidence in the market has strengthened. There are many companies set to expand their operations, start new projects and increase productivity in the region this year,” Matt Underhill, MD of oil and gas at Hays, told Pipeline.
But given the current geopolitical instabilities across the region, how can the oil-rich region sustain confidence? Will the forecast remain as rosy for oil and gas job seekers?
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