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The Hays Oil & Gas Global Job Index recovered from the dip experienced in the last quarter of 2012 and has shown two consecutive years of substantial improvement. The index charts the number of jobs posted on nine oil and gas portals across the world.
It stood at 1.49 in March 2013, improving from two previous quarters. John Faraguna, global managing director of Hays Oil & Gas, said: “It is encouraging to see the recovery in the index especially as we have also seen an increase in the average worldwide salary since last year. We can put this down to the ongoing skill shortages in the industry.”
“Around the world in the mining and resources sector we have begun to witness a decline in hiring activity as projects are postponed. The economic issues within the EU have also had their knock on effect throughout the world, including China which has contributed to their slowdown and ability to build up their raw materials inventory. “
“These signs have led the industry to approach 2013 with caution. I believe that the next few years will see a rise in hiring and for the rest of 2013.”
In Europe, despite a decrease in the number of positions during the first quarter, the number of roles advertised is equal to the average of last year. The UK remains buoyant, but despite strong demand for G&P professionals in Denmark, there have also been layoffs in the country.
In Australasia, the first quarter of 2013 was the lowest regional index has fallen for 15 months, with the exception of the December slowdown. This can be attributed to the cautious approach being taken in the region due to the European economic concerns having their impact felt in other parts of the world.
In Asia, the job index dropped to 1.76 during January and February due to the Chinese New Year holidays, along with annual bonus payments. The demand for offshore construction continues to be driven by Singapore as companies look to involve themselves in the market.
In North America, the US market saw high levels of production until recently when major infrastructure projects were delayed. Canada is currently dealing with uncertainty of some of its future projects as they battle reduced oil prices. There continues to be a demand in both markets for skilled professionals.
South America has seen a slowdown in the market with both jobs and salaries being cut, this is due to the lack of bidding rounds for projects in the region. The need for imported specialists can be seen in the rise in expat wages.
The African market experienced a difficult start to the year, attributed to political and in-country incidents. The downturn experienced in the general commodities sector appears to have affected the confidence in the stability and return on investments, as a result the job index has been pushed lower than previous. There is currently a strong demand for experienced expats in the region, required to steer local markets.
Due to political movements within the Middle East, the markets have seen a number of challenges. Despite this, the Gulf Cooperation Council has numerous projects currently being undertaken, which in turn is attracting candidates looking for opportunities.