The petroleum industry, once a strong magnet to top echelon graduating students, is no longer a major attraction. In recent years, economic conditions, eroding oil prices, and a large menu of alternate career choices have caused new graduates to shun oil and gas companies in favour of industries that seem more exciting. A result of this trend has been shortage in adequate replacements for the industry's aging workforce. Over time, this has created a serious gap between seasoned experienced personnel and young inexperienced employees.
This experience gap is forcing oil and gas companies to work in new ways, and technology is a major enabler in this regard. Technology has improved the quantity, quality and timeliness of data capture and analysis; in-field applications ensure that accurate data is captured and transferred to the control room to be analysed, visualised and used in making timely decisions. Technology solutions have created new connections across oil and gas enterprises, breaking down silos? and improving decision quality through inclusion of the right expertise at the right time. Most pertinent to the personnel gap, technology bridges the knowledge gap by allowing more centralised control between field personnel and main office staff. Seasoned experts can remain stationary and act as virtual advisors to less experienced field workers in multiple locations through web-based collaborative work systems, guiding and supporting them remotely through IT applications and software.
There is a double win in the application of technology in the oil and gas industry. In addition to bridging the knowledge gap between seasoned workers and new inexperienced employees, the adoption of leading edge technologies in the industry has caused resurgence in strategic innovation. This creates a new and strong magnet for top graduates seeking exciting and fulfilling careers.
We are positioned at the source of the innovation resurgence in the oil and gas industry since its beginning. Based on deep experience working with oil and gas majors and super majors all over the world, our teams offer insights and recommendations for effectively addressing the talent and experience gap and for increasing the magnetism of the brand image of the industry. We would be glad to know your thoughts on the growing challenge of diminishing talent.