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Diverse Workplace Culture, Tech Attract Younger Talent, Oil & Gas Companies Need Reforms

Doug Pferdehirt, chief executive of the power services firm TechnipFMC, was speaking at the opening session of the Offshore Know-how Convention in Houston, promoting advances and improvements from shale drilling to liquefied natural gas exports, and urging the oil and gasoline business to request to the next technology.

Pferdehirt issued what has become a more and more urgent problem for the growing older oil and gas sector as baby boomers start to retire in waves and corporations discover it troublesome to persuade younger staff who wish to save the planet that their trade has a future, each technologically and sustainably. The exploration and production aspect of the business alone may face a downfall of as many as 40,000 engineers, geologists and different technical professionals by 2025, based on Accenture Strategy.

Employees born between 1981 and 2000 will need to oust a majority of the jobs left vacant by retirements within the oil, natural gas, and petrochemical industries, according to the American Petroleum Institute, a commerce group. However, in a survey of science, technology, engineering and arithmetic graduates worldwide, commissioned by the Abu Dhabi National Oil Company, only 44% stated they’d be fascinated about careers in oil and gas, compared to 77% excited about a profession in know-how and 58% in life sciences and pharmaceuticals.

Talk tech first, oil later

At OTC, recruiting younger talent appeared a critical goal for a lot of companies. Holograms that depicted offshore rig know-how and interactive touch-screen diagrams overlooked the commerce flooring — as did espresso machines and open-ground-plan-style cubicles.

Firms, like Houston oilfield services firm Baker Hughes, pitched themselves as being on the cutting fringe of expertise while bellowing office cultures that enable employees to make money working from home and promote diversity and inclusion — all elements that attract millennials, the generation born between 1981 and 1996. The stakes are high: If oil and gasoline corporations don’t adapt, younger talent will move to tech giants similar to Google.

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