A report prepared by the company on behalf of EY industry body Oil & amp; Gas UK shows that over the next five years employment in the oil sector will fall by 35 thousand. jobs, or about 9 percent.
In the UK the oil sector currently employs about 375 thousand. people. Almost one in ten may lose their jobs in the next five years due to the deteriorating condition of the industry – according to a report prepared by EY.Since the beginning of this century, the extraction of oil and gas on the UK Continental Shelf consistently fall despite record spending on investments in the sector, which in 2013 exceeded 14 billion pounds. According to the data for the first half of 2014 the production of British deposits increased by about 1 per cent., Which may herald the end of the negative trend.
According to government estimates, mining on the UK Continental Shelf should remain at a constant level by the end of this decade. Despite this, experts forecast that employment in the sector will fall in this period by 9 percent.
According to the report, the cause of the decline in employment will be primarily projected fall in investment. It is expected to fall from a peak of more than 14 billion pounds in 2013 to less than 8 billion pounds in 2019 years. The reason for this decline is the “aging” of British deposits, most of which are in operation for several decades. Nowoodkrywane deposits are now much smaller and at the same time more difficult to operate and thus more expensive.
The second reason for the decline in employment is projected technological development of the sector, which will result in a decline in demand for new employees. As a result of technological change is also expected profile of candidates for employment in the sector.
According to the report, however, is a chance that some of the jobs lost can be recovered. Paradoxically, it may just be a result of declining manufacturing activity. It will be necessary for the removal of unnecessary and outdated transmission infrastructure and mining (oil rigs, pipelines). In addition, is expected to increase the demand for labor in British companies operating in other regions of the world. In total, this may allow for the creation of about 12 thousand. new jobs until 2019.
The report also notes significant employment prospects in the oil and gas industry on land, mainly related to shale gas sector. In the year 2019 the number of employees in the industry shale can be as high as 21 thousand. people.
Despite this, the vast majority of companies in the oil and gas industry (about 70 per cent.) Admit that they have difficulty in finding suitably qualified staff.
The British oil sector has adapted to the changing conditions – falls among participation of older workers aged over 55 years. These employees represent only 10 percent. employed in the sector, the average for the whole of the UK economy is about 32 percent. Employees under the age of 35 years to 40 per cent. employed, while in the country is just over 30 percent.
The report also confirms that the UK has become a world leader in services for the oil sector – the value of exports of these services in the past year amounted to nearly 15 billion pounds. This sector is important for the British balance of foreign trade – provides for an annual 30 billion pounds of revenue from abroad.
In the oil sector employed one in every 80 Britons and the average wage in the sector is 64 thousand. pounds per year and is one of the highest in the country.
London Marcin Szczepanski
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