Oil and gas industry suffers brain drain
by
Energy Digital Content Team
for
Energy Digital
Recommended by
Paul Shale
Chief Commercial Officer
The article looks back to the industry shortages in the 1970’s which led to a glut 1980’s, both of which contributed to a shutdown of industry recruitment and training. The article points to this as the cause of a lost generation in the industry, the “recruits-that-never-were” (35-50). With existing experts (50+) retiring, a massive knowledge, skills, technical shortage threatens the industry at a time of immense demand and new complexities requiring deep experience.
Why it’s relevant to Nextspace
The article is of use to Nextspace Partners whose customers have ageing expert workforces as it opens up reasons why a digital twin offers a solution to this knowledge gap.
Interesting points to note:
- According to PwC, the skills pipeline is a major concern for more than 60% of energy CEOs.
- Opito (the industry training body) and the EngineeringConstruction Industry Training Board report that over half of firms in the oil and gas sector see the skills shortage as their number one challenge.
- The rise of resource nationalism in developing countries (where a large portion of the future extraction lies) has added an additional dimension to the skills challenge. Nation quota restrictions on international expertise could be resolved by remote working technologies. Digital twins enable 'on-site remote working.
- Fast-track catchup training programs simply cannot transfer decades of experience in such complex environments. Digital twins make knowledge available where and when it’s required.
- Investment in training can be lost with a transitory workforce. Digital twins attach knowledge to the assets and systems.
- The Oil & Gas industry is fairly entrenched in its tradition of recruiting from within.
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