SJD Accountancy

Oil & gas contractors could relieve industry’s growing skills shortages

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Recent findings have revealed that the oil and gas contractors could very well benefit from North Sea skills shortages.  It’s also been found that confidence within the sector is particularly high.

The 20th Aberdeen and Grampian Chamber of Commerce (AGCC) Oil and Gas Survey, which has been put together with the University of Strathclyde’s Fraser of Allander Institute, and sponsored by Bond Dickinson, found that of those surveyed, 30% of all firms were more confident about their UK Continental Shelf (UKCS) activity than a year ago, while just 14% were less confident.

With regards to firms’ expectations of their UKCS activity over the following year, 37% of all respondents were more confident, while 15% were less confident.

The report also revealed that skill shortages and competition for staff have been found to be a key factor for restricting activity in the North Sea.  Oil & Gas contractors could very well help to provide the industry with the key skills needed.

Robin Collier, AGCC Chief Executive, said, “More stable trading expectations are returning after rapid growth in recent years. 30% of all firms were more confident about their UKCS activity than they were a year ago; however, this is down from levels seen over the last couple of years. The number of firms reporting working at or above optimum levels is also down from recent highs but more closely reflects the long-term trend of the results.

“It is positive to see that firms are continuing to invest in the UKCS and are looking to increase spend over the next two years (49% looking to increase). Investment spending over the last 12 months has been mainly in ‘new markets’ (48%) and ‘staff training’ (47%). It is encouraging to see business investing in their workforce, something that may have previously come second to more operational budget headings with some firms.” 

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