Author Topic: What Will Happen to Experienced Oil, Gas Workers?  (Read 824 times)

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Offline thackney

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What Will Happen to Experienced Oil, Gas Workers?
« on: August 17, 2017, 05:18:40 pm »
What Will Happen to Experienced Oil, Gas Workers?
http://www.rigzone.com/news/oil_gas/a/151424/What_Will_Happen_to_Experienced_Oil_Gas_Workers
by  Valerie Jones - August 16, 2017

Nearly one-third of respondents to Rigzone’s worker exodus survey are highly experienced (having more than 20 years of oil and gas experience). This group of industry professionals has been quite vocal about how they feel about leaving the industry – either voluntarily or involuntarily.

Some have decided to leave the industry due to disappointing job opportunities or an uncertain future with volatile commodity prices. Several have gone as far as to swear off the industry altogether and warn newcomers against entering into the world of oil and gas.

Fifty-two percent of Rigzone’s respondents with more than 20 years of industry experience are currently unemployed, having most recently worked in oil and gas. Almost half of these people were the victim of a layoff within their company. Yet 83 percent of them are still actively looking for employment in the oil and gas industry.

Many experienced job-seekers have reached out to Rigzone, expressing frustration with employers, claiming they were pushed out to make room for younger and cheaper labor.

However, Regina Mayor, U.S. and global energy sector leader for KPMG, doesn’t see this as the case.

“My perspective is that less experienced resources have been cut to save more experienced resources,” Mayor told Rigzone. “Oil companies have favored experience and performance during the downturn … they have tried to use this down cycle to create a high-performing culture and use previous performance and experience as the key indicator for retaining resources.”

David Hsieh, an oil and gas professional with 35 years of industry experience, was laid off (he was asked to sign a termination agreement) during the most recent downturn and he says this low cycle is much different than past ones.

“I chose to retire after working as an expat in China for 18 years and there was no hope of a firm recovery,” he told Rigzone. “I am one of the lucky ones that enjoyed the glory days of big oil and my own frugal lifestyle to have plenty to retire at age 58.....
« Last Edit: August 17, 2017, 05:19:21 pm by thackney »
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Offline IsailedawayfromFR

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Re: What Will Happen to Experienced Oil, Gas Workers?
« Reply #1 on: August 17, 2017, 07:16:21 pm »
I note one thing that is quite different from previous downcycles like this - companies have a much likable affinity to hiring internationals in to do domestic work as compared to years ago. Professionals from Nigeria, India, Colombia, etc.  are more up on US customs and o&g.  Some are outstanding in their fields.  I have witnessed the membership of the Society of Petroleum Engineers becoming more and more akin to an international organization where it used to be predominately US.

Means mediocre American professionals are passed over in favor of more valuable internationals.

Those Americans must compete to succeed.

No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington