Oil Contracts on the horizon

History keeps repeating itself my friend, and as George Bernard Shaw points out , the unexpected always happens, this article by Martin Tidbury posted in Oil Pro gives a good aspect on those families that have been in limbo waiting for the Oil Biz to start up again;


History Repeating Itself?

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In good times and bad, the challenge of finding and retaining skilled and experienced workers in the Oil & Gas industry remains high.

When the Oil price slumped to below $10 a barrel by mid-1986, the industry reacted by delaying or dropping projects, cutting exploration and capital spending along with major job losses across the sector. The impact of this drop in training and recruitment was felt for many years later and by 2013/2014, when record spending pushed up activity levels in the North Sea, there was an acute shortage of workers with 10-15 years experience.

With the oil price dropping to below $50 a barrel over the last year, the industry has again reacted by delaying or dropping projects and cutting spending, along with job losses across the sector. But with this reaction do we risk being in the same boat as 2013/2014 in 2030?

Oil and gas producer BG Group has become the first to explain recently in detail how it intends to make its offshore platforms more efficient. By simply reducing "dead time" on installations and empowering the offshore workforce to carry out its own logistics and planning.

Thousands of staff and contractor posts have already been lost or had their rates significantly slashed, and we don't seem to be at the end yet. There are a lot of savings to be made by what BG is doing and engaging with the workforce is key.

You don't deliver efficiency by just cutting jobs.

Perhaps we can look at what Dave Brailsford did with British cycling in 2008 when he was head of performance at British cycling, marginal gains.

The concept of marginal gains is that you break down all the individual elements involved and improve each of them by just 1% to realise a significant increase when all were combined. In these lean times it is one that should be considered as a means of transforming companies so they are streamlined, efficient and ready to handle challenges of the future.


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