Global oil sector wages to rise
Manama, March 15, 2011
Salaries in the global oil and gas industry are to increase throughout 2011, according to a joint report from OilCareers.com, the international job board for the oil and gas industry, and its partner Air Energi.
Focusing on employment and salary trends in the energy sector throughout 2011 the report, entitled The Global Oil and Gas Workforce Survey: Expectations for hires and pay rates in the oil and gas industry, addresses the issues that affected the oil and gas industry across 2010 and what they mean for the first half of 2011.
The report predicts that, globally, salaries will increase throughout 2011, with the number of hires across Africa, the Americas, Asia Pacific, Australasia, Europe and the Middle East remaining strong.
With activity set to rise in the oil and gas sector many companies are expected to focus recruitment on the individual - ensuring that the right talent is place for the right price.
Recruitment is predicted to increase 60 per cent with 20 per cent of the industry to expect an increase in salary to boot.
'The global oil and gas industry garnered a lot of experience and understanding throughout 2010 and with the number of hires increasing by more than 60 per cent in core regions such as the Middle East, Europe and Americas, ensuring that the talent pool is positioned correctly is a vital component in the stabilisation of the industry going forwards,' said OilCareers.com managing director Mark Guest.
'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,' said Air Enegri group chairman Ian Langley.
'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.
'The Air Energi-OilCareers.com survey provides an indication of the optimism that 2011 holds and the focus that is being placed on talent.'-TradeArabia News Service