By OGJ editors
HOUSTON, Mar. 29 -- The loss of 5,000 experienced petrotechnical professionals (PTPs) from the global upstream industry can be expected by 2014, a survey by Schlumberger Business Consulting, the management consultancy arm of Schlumberger, indicates.
The 2010 Oil & Gas HR Benchmark study reveals how a “big crew change” is reshaping the global upstream industry. For the first time in its 7-year history, the annual survey measures the impact of human resource strategies on production growth.
Insights from this year’s survey are structured around PTP Intensity, a concept developed by SBC to show the correlation between the ratio of PTPs to operated production and production growth based on the last 5 years’ compound annual growth rate.
The 2010 survey reveals that growing companies have a higher PTP Intensity than others. A high PTP Intensity means that there are more PTPs per 1,000 bbl of oil produced than for companies with a lower PTP Intensity.
Other key findings:
• Oil and gas industry will lose 5,000 experienced geoscientists and petroleum engineers by 2014.
• 2011 global graduate recruitment targets are 15% up on 2009 forecasts and are stabilizing at around 9,000 PTPs/year.
• Asia and Russia-CIS account for more than 70% of worldwide graduate PTPs.
• Women account for more than 40% of total PTP graduates in Asian universities but less than 20% in North America. For exploration and production companies, female ratios vary from 15% to 27% depending on discipline.
• Strong correlation between the number of PTPs employed and operated production growth.
The survey was compiled by using data from 11 national oil companies, 5 major oil companies, 12 independents, 1 oil field services company, and 77 universities. The contributing companies account for 30% of world oil production.
Loss of 5,000 technical staff seen by 2014
By OGJ editors