A talent crisis looms in the oil and gas industry

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  • Thursday, 14 Feb 2013

RISING global demand and skyrocketing oil prices are encouraging oil companies to invest in both conventional oil exploration and unconventional oil projects. But a diminishing pool of new and experienced talent together with an ageing workforce may be hindering growth.

According to Ernst & Young, post tax profits for leading oil and gas companies rose by 29% last year to US$319.9bil (RM990.7bil) from 2010, yet industry experts feel something has to been done quickly or the world’s most lucrative industry may be in a talent crisis.

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