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Oil and gas survey shows UK industry wages set to rise by 15% this year

Oilfield Technology,


A survey of more than 5000 oil and gas companies has revealed that the average wage in the industry will rise 15% this year from £64 000 to £73 600 due to a severe shortage in qualified staff.

The survey, undertaken by Oilandgaspeople.com, found that 70% of oil and gas companies were worried that wages were rising too fast.

North Sea Oil resurgence

The survey of oil and gas companies found they blamed different reasons for the skills shortage, with 35% suggesting it has been caused by too little investment in apprenticeships due to an assumption that North Sea Oil was in decline. 117% suggested that industry did not expect the success of new technology to pump low-grade oil, so recent growth and investment was unexpected, while 46% suggested the skills shortage in the UK had been caused by growing demand for UK staff to work abroad.

Kevin Forbes, CEO of Oilandgaspeople.com, commented: “Our survey shows that with increased investment in North Sea Oil, demand for qualified 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.

“Terms and conditions are increasing at the same time as UK oil and gas companies try to compete for a dwindling number of skilled staff. The companies are right to pinpoint the dual impact of historic lack of training and pressure from well-paid jobs abroad.

“With the record investment in North Sea Oil in the last few months, this pressure on wages and skilled staff does not look likely to end any time soon. But there is a solution. The government needs to step in and incentivise companies to invest more in people urgently,” Forbes added.

Time for government and industry guidance

“So many people want to get into the industry but there is very little out there in the way of guidance in how to go about that. A lot more needs to be done and now is the time for the industry and government to take action,” Forbes said.

“There is a lot of press around North Sea Oil being in decline, but the truth is there is still 30 - 40 years left in the North Sea and that estimate increases all the time as new fields are discovered and come online. Anyone looking to get into the industry now will enjoy a career that will last their lifetime easily,” he said.

Adapted from press release by Cecilia Rehn

Read the article online at: https://www.oilfieldtechnology.com/exploration/17092013/oil_and_gas_survey_shows_uk_oil_and_gas_industry_wages_set_to-rise/

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