With a relatively slow start in January, and the threat of what could have been a slow quarter, Morpheus Oil and Gas are now experiencing a steep upturn in client requirements across it’s upstream business. The team at Morpheus is bracing itself for a busy second quarter, with requirements coming in thick and fast across it’s Subsurface, Subsea, Discipline Engineering and Upstream IT desks. Drilling down further still, the strongest calling has been for Production Technologists / Petroleum Engineers; Subsea Controls Engineers; Process Engineers; Rotating Equipment Engineers, Domain Solution Architects and Upstream Change Managers.
The majority of requirements within the Oil and Gas sector this quarter have been in the UK and Northern Europe, with Western Europe following a close second, followed by North Africa. Morpheus are expecting continued growth over the course of this year and beyond in each of these regions, however the highest level of relative growth is expected to be in the UK as a result of increased interest in the development of North Sea reserves. Due to this increase, we expect to see average salary / day rate increases throughout the region in an effort to compensate for the lack of skills available to meet increasing demand, combined with the relatively low salaries offered in the region by comparison to other parts of the world.
Big oil companies and independent explorers are queuing up to spend at least £13bn on developing British oil and gas reserves this year, the highest figure in three decades. The boom is a result of tax changes designed to encourage a renaissance in the industry, according to Oil & Gas UK, the industry’s umbrella body. Thousands of jobs are being created nationwide from the latest North Sea boom, Oil & Gas UK says. Investments announced in the past six months or so have resulted in about 7,000 new jobs being created, but more are expected across the supply chain.
Malcolm Webb, chief executive of Oil & Gas UK, said the forecasts came after two disappointing years brought about by tax uncertainty: “The recent introduction of targeted tax allowances, coupled with the government’s ground-breaking commitment to provide certainty on decommissioning tax relief, has prompted global companies and independent businesses alike to take another look at the UK as an investment destination”.
Another forecast undertaken in January for the UK’s oil and gas industry has suggested a “boom” this year in offshore jobs as North Sea oil continues to experience growth. Oilandgaspeople.com, a recruitment services firm specialising in the energy sector, has said that between 40,000 and 50,000 new jobs could be created. It also predicted the onset of shale gas exploration would boost prospects. However, the firm warned of continuing skill shortages with a rise in the need for qualified and experienced Oil and Gas staff.
The recruitment company’s annual review of the oil and gas sector analysed the impact of the record breaking 27th licensing round which saw the Department of Energy and Climate Change (DECC) award 167 new licences on more than 300 North Sea blocks in October 2012.
Kevin Forbes, from Oilandgaspeople.com, said: “Our forecast shows that with increased investment in North Sea Oil, demand for qualified Oil and Gas staff is set to reach an all time high, which will exacerbate an already serious skills shortage, a problem that is being further exacerbated as UK candidates head abroad to earn even higher wages with a huge demand for qualified expats globally. In the last few months alone in the UK Stat Oil announced a £4.3bn investment into North Sea Oil creating over 700 jobs, a £1bn project to develop the Harris and Barra oilfields was announced, as well as another £1bn investment by joint venture Canadian-based Talisman Energy and Chinese Company Sinopec. Large projects backed by BP West of Shetland are already under way and Total’s new Terminal project in Shetland is in full swing”. He added: “There are too many new projects to mention and from our own industry knowledge we expect more big announcements in 2013.”
If you are an Oil and Gas professional operating within one of the disciplines mentioned at the beginning of this article, we want to hear from you! Likewise, if you require resources within any of these disciplines, please get in touch! Morpheus offer specialist permanent and contract recruitment services within the E&P industry, servicing the global needs of Operators, Service Companies and Consultancies.