A boost in UK oil and gas jobs forecast for 2014
Posted on: 20/01/2014

Predictions for employment opportunities in the UK Oil and Gas industry this year are looking increasingly positive. An annual review of the UK’s largest Industrial investment sector anticipates that 2014 will be a blockbusting year for North Sea projects, job creation and wage increases. More than 10,000 North Sea oil and gas workers were involved in the research which showed that 69% of the personnel had confidence in the future of the industry. Further analysis from the review indicated that job demand is expected to grow with 20,000 jobs being created during the whole of this year.

According to the review by Oilandgaspeople.com, most of the workers are certain the tax breaks that apply to the industry, will continue to increase investment. This follows an announcement by EnQuest that it would develop the Kraken heavy oil field and as a result of a government tax break, the company is assured of tax-free revenues until the year 2018. Once Kraken becomes operational in 2016/2017, oil production is expected to reach a high of 30,000 barrels per day.

Other figures in the review show that during 2013, 68% of oil and gas workers received an increase in their wages. A pay rise of 5% was received by 29% of the workers, while increases equal to four times the rate of inflation was said to have been earned by 27% of the employees. Additionally, a salary hike of between 20% and 30% was added to the pay packet of a further 29% of the workforce. The results of the research reveal that during the last 12 months, the average income in the industry has grown from £73,600 to £80,960. The CEO of Oilandgaspeople.com, Kevin Forbes, said that the annual review of Oil and Gas People shows that demands for jobs and wages in the industry are up again. Increased North Sea Oil investment, combined with new technologies for oil recovery, means that oil fields nowadays have longer lives.    

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