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The Path for Future Talent for Oil and Gas Industry

According to a survey released by ADNOC, the oil and gas industry has been facing strong competition in attracting science, technology, engineering and mathematics (STEM) talent but nearly half of the younger generation is interested in the industry.

The survey found that 44 per cent of Millennials and Generation Z (Gen Z) are interested in pursuing a career in oil and gas, compared to 77 per cent in the technology sector, 58 per cent in life sciences and pharmaceuticals, and 57 per cent in healthcare – according to the inaugural global “Workforce of the Future” survey commissioned by ADNOC (Abu Dhabi National Oil Company), released at the energy event CERAWeek by IHS Markit.

Interest in oil and gas is on par with the marketing and advertising (48 per cent), hospitality (47 per cent), transport/logistics (46 per cent) and retail (41 per cent) industries, the report said.

As the industry looks to attract STEM talent and enable the 4th Industrial Age, this survey, commissioned by ADNOC, was helpful in examining future workforce and employment trends in the oil and gas industry.

This is in line with ADNOC’s Oil & Gas 4.0 mission to help meet the world’s increasing demand for energy and higher-value products – by fostering a dynamic and performance-led culture that cultivates talent and applies the latest technology to optimise resources.

The survey interviewed STEM students and young professionals aged 15 to 35 in 10 countries – across North America, Europe, Asia, and the Middle East, representing a mix of significant global economies, and producers and consumers of oil and gas – and looked at their perceptions across multiple STEM-related industries, including oil and gas, and the skills they value and believe are required to succeed in these industries.

Young STEM talent views the oil and gas industry as an invaluable resource and often associates it with high salaries. “The industry pays well,” “the industry is crucial for their country’s economy and development,” and it is “an industry we couldn’t live without,” are ranked as the top three positive attributes about the industry.

STEM Millennials and Gen Zs show a keen interest in industries which they believe will be most impacted by new technologies. Globally, 42 per cent say that new technologies will have a major impact on the oil and gas industry, while 56 per cent say the same for healthcare, 53 per cent for life sciences and pharmaceuticals, and 73 per cent for the technology industry.

Nearly 3 in 4 believe that new technologies will have an overall impact on the oil and gas industry, compared to 9 out of 10 for the technology sector.

The demand for energy and higher-value products has continued to increase at an unprecedented rate. To meet the demand, industries must stay ahead of the curve and consistently attract, retain and develop young people. With the 4th Industrial Age fast approaching, industries need to come together with other technology industry partners, to better highlight the exciting opportunities dynamic industry offers to young talent with strong technology skills.

References:
https://www.pipelineoilandgasnews.com/interviewsfeatures/features/2019/march/oil-and-gas-fights-for-future-talent-attractiveness/
  • Oil and Gas
  • ADNOC
  • New Technologies
  • Life Sciences
  • Pharmaceuticals
  • STEM
  • Energy
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