Oil & Gas Industry Updates Q3 2015

Oil & Gas Industry Updates Q3 2015

Trends

The oil and gas sector has been in the limelight since prices have fallen a little over a year ago now.

It has caused many companies to re-evaluate their processes, namely their efficiency, but the low prices doesn’t necessarily mean it is all doom and gloom in the industry.

A change in the market, yes. A change for the worse, no. 

According to the IMF, oil companies are putting an impetus to reform energy subsidies and step up structural reform efforts to support jobs and growth.

Many companies are going about it in different ways. Some are looking to exploit overseas expansion, such as Qatar Petroleum, who have cut staff to focus on upstream projects elsewhere in one of the more dramatic restructuring efforts in the region

However in the UAE, the situation is different, with some of its major players advertising and planning to hire more talent in the coming months.

According to emirates24/7 they have reported ENOC is looking for qualified personnel to fill various positions across different departments within the group.

Drilling, operations & terminal, engineering, general services, geosciences and business support are all positions intended to be filled and is a great opportunity to work with one of the largest oil providers in the world.

In general, hiring intentions are decreasing on a global scale, such intentions are generally much more positive in the Middle East emirates 24/7 said.

Western expats remain high in demand from large conglomerates such as Saudi Aramco as well as other pockets such as UAE as well.

The industry in general is anticipated to see a robust improvement in consumption demand, combined with governmental support to help provide growth in the sector in the Middle East region.

Prices remaining around the $50-$60 per barrel will remain a key challenge for revenue growth for all companies. This may mean your salaries may not see the increase they have seen in the past.

Job Updates

A total of 270 job vacancies were found when searching for vacant oil and gas positions in the gulf.

Unsurprisingly the majority of these roles were found in Saudi Arabia (114) and United Arab Emirates (98).

The most popular positions in demand across the entire region were Safety, Engineering, Management and ‘other’ which had positions such as drillers, oil rig operators and other heavy machinery operators in demand.

Those companies advertising the most positions were McDermott International Inc., Saudi Aramco, Yasref and ENOC, all advertising 20+ jobs at the time of publication.

103 positions were advertised as mid-career level opportunities, 29 were management level and 6 executive/director level. Only 19 jobs were advertised for entry level positions.


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