Salaries in the global oil and gas industry are to increase throughout 2011 according to a joint report from OilCareers.com, the international job board for the oil and gas industry, in association with partner Air Energi, a global provider of manpower solutions to the energy sector.
Focusing on employment and salary trends in the energy sector throughout 2011 the report, entitled ‘The Global Oil & Gas Workforce Survey: Expectations for hires and pay rates in the oil and gas industry H1 2011', addresses the issues that affected the oil and gas industry across 2010 and what they mean for the first half of 2011.
The report predicts that, globally, salaries will increase throughout 2011, with the number of hires across Africa, the Americas, Asia Pacific, Australasia, Caspian, Europe and the Middle East also remaining strong. With activity set to rise in the oil and gas sector many companies are expected to focus recruitment on the individual - ensuring that the right talent is in the right place for the right price.
For the Middle East market, diversification of the energy sector is still paramount. Recruitment is predicted to increase 60 percent with 20 percent of the industry to expect an increase in salary to boot.
The UAE has been cited as a ‘project activity hub for 2011,' with numerous expansion projects and a push in production and downstream processes. Therefore, the prediction for an employee's bank balance is positive; with zero salary decreases anticipated in the first half of 2011.
Mark Guest, managing director of OilCareers.com, said: "The global oil and gas industry garnered a lot of experience and understanding throughout 2010 and with the number of hires increasing by over 60 percent in core regions such as the Middle East, Europe and Americas, ensuring that the talent pool is positioned correctly is a vital component in the stabilisation of the industry going forwards.
"It is a pleasure to be working with Air Energi and launch our first joint report in 2011. This is a partnership which has come as a result of long term mutual respect and an interest in the increased confidence and optimism of the global energy sector."
Ian Langley, group chairman of Air Energi, added: "Some 2.5 million people are currently employed in the energy sector, producing 88.5 million barrels of oil per day and responsible for $490 billion in global exploration and production budget in 2011. In spite of these massive numbers or perhaps because of them, as we embark on what looks to be a very busy year, the focus has once again come down to the individual. The Air Energi-OilCareers.com Survey provides an indication of the optimism that 2011 holds and the focus that is consistently being placed on good talent being recruited into the right position."
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