An annual study of the UK oil service industry showed firms plan to increase their workforces by an average of 10% over the next two years.
The 2012 report by professional service firm Ernst and Young (E&Y) and trade body Oil and Gas UK (OGUK), said more than 75% of businesses surveyed expected to take on more staff and nearly all of them predicted an increase in turnover. Around half of companies identified finding suitably qualified personnel as the main factor limiting growth.
The UK Oilfield Services Industry Review, which looked at companies providing equipment and services used in the exploration for and extraction of oil and natural gas, said the sector directly employed about 93,000 people in the UK.
Report author Ally Rule, a partner at E&Y in Aberdeen, said: “The oilfield services segment continues to outperform most other UK industrial sectors despite the recession. There is evidence of record order books and rising revenues but this is dependent on a stable fiscal environment.”
OGUK chief executive Malcolm Webb said: “The report highlights a sector in robust health. With up to 24billion barrels of oil and gas left to recover in the UK, continued investment in our own reserves bodes well for the supply chain and, subsequently, UK employment, tax revenues, energy security and balance of trade.”
Meanwhile, recruitment specialist Rigzone said yesterday its survey of energy professionals found there was a delay in seeing the benefits of new investment. More than half of the people surveyed believed it would be hard to find a “favourable” new job in 2013.