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Tuesday, May 5, 2015

Complications Abound For the Future of Oil Industry Workforce

From Forbes:
The Great Crew Change used to be a phenomenon that everyone in the oil and gas industry could easily describe. When it was referenced, people knew it referred to the large age gap in the oil & gas workforce, where most engineers and geoscientists were either over 55 or under 35. Seems simple enough, right?

If you peel back the onion a bit, you’ll see the implications of the great crew change. The older crew, comprised of nearly 50% of the industry’s employee base, would be retiring in the next 5 to 7 years. Imagine what losing that invaluable experience would do to any industry? Real world experience that can’t be taught in school or by reading a book or studying a report. The skin-in-the-game type of struggle that requires engineers and geoscientists to take into account all the variables, risk, investment, and geologic factors that E&P companies face every day.

On top of facing a huge talent shortage, there were other elements that complicated the great crew change concern. First of all, a lack of technological innovation plagued the industry. Secondly, the Internet drove a digital wave that pushed incoming workers to online technologies, leaving the oil & gas sector largely ignored.
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