With companies in the Oil & Gas sector increasing their investment in renewable energy projects, there is a growing demand from workers for new training opportunities.
If you are a professional in the Oil & Gas sector, you may now find yourself at a crossroads.
Due to the global pandemic, the Oil & Gas industry has had to accelerate its energy transition plans, as highlighted in a recent report by DNV.
The report concluded that the industry is increasingly moving towards decarbonization. It also revealed that 80% of senior Oil & Gas industry professionals say they now plan to “increase or maintain” investments in renewable energy projects and portfolios in 2021 – up from 71% the previous year.
What Sectors are Oil & Gas Businesses Targeting?
Nearly two-thirds (62%) of respondents to the DNV survey said they are now actively looking for investment opportunities outside of Oil & Gas, up from 51% the previous year.
Among those looking to invest outside the Oil & Gas sector, which areas are being targeted?
The study showed that:
- 61% are targeting carbon capture and storage
- 60% are targeting floating offshore wind
- 58% are targeting green hydrogen
- 57% are targeting fixed offshore wind
- 44% are targeting solar PV
- 44% are targeting onshore wind
Why Oil & Gas Professionals are Ready for Change
The good news is that many Oil & Gas professionals are embracing the energy transition, and specifically the industry’s diversification into the renewables sector.
Research has shown that while some Oil & Gas professionals view the transition to cleaner energy as potentially difficult, a bigger proportion see the transition in a positive light.
The Global Energy Talent Index Report 2021 revealed that, while 33 percent of Oil & Gas professionals view the transition as a “challenge,” a total of 44 percent consider it an opportunity.
However, in order to make the most of this opportunity, it is vital that the industry tackles the issue of training head-on.
Key Steps Hiring Managers Should Take
To make the Oil & Gas industry more resilient, hiring managers need to “look at training, mentoring, and retention programs, and ensure that they are readily accessible, well understood, and focused on meeting employee needs and ambitions,” according to The Global Energy Talent Index Report.
The report added that hiring managers should also consider “putting together a robust defense of training staff during a downturn to prevent a repeat of previous talent-draining episodes.”
According to the report, a total of 41 percent of Oil & Gas industry professionals say “training and mentorship” are key if the sector wants to become more resilient in the face of economic shocks.
Employees are always receptive to more formal training programs, and as career stability and progression become increasingly valued, training, development, and mentorship become even more important.
The Global Energy Talent Index Report
Training: Where Oil & Gas Companies are Going Wrong
Despite the numerous benefits of high-quality training, few Oil & Gas companies actually provide it.
Only 29 percent of Oil & Gas professionals consulted for The Global Energy Talent Index Report said their employer had increased training and mentorship provisions.
This echoes the findings of a report conducted by social and environmental research organization Platform, which concluded that Oil & Gas workers are concerned about “inadequate investment” in development and training opportunities.
The Platform study also found that while most Oil & Gas workers would like to receive extra training, they feel that, in the past, accessing such training has been difficult and has often imposed unreasonable financial burdens.
This is where Workrise can help.
How We Can Help You
Workrise offers accredited training courses, on-site or online, to ensure that all the workers you hire have the skills you need for your project.
Providing training and cross-training means workers are able to adapt their skills and stay working.
When providing training, safety is a top priority. We offer compliance, safety, and skills courses to ensure the workers on your job site meet your requirements.
Get In Touch
Workrise can help with training, staffing, technology, and professional services — so you can get back to focusing on what you do best. Visit our website at workrise.com.