The revival of the North Sea will continue this year with strong optimism about activity in 2014 across both operators and contractors in the industry and continued record levels of investment in new fields, in line with recent trends.

The findings of the latest industry survey conducted by Aberdeen & Grampian Chamber of Commerce and sponsored by law firm Bond Dickinson, reveals further evidence of the renaissance the industry is enjoying, in spite of the recent plunge in investors’ confidence.

The report shows that 58% of operators and 65% of contractors increased their workforce in the last year. In addition, the positive trend is set to continue, with three in four contractors (73%) and half of operators (50%) anticipating an increase in their total number of employees next year, with a particularly strong demand for permanent staff. 

Nonetheless, both operators and contractors reported increased recruitment and retention difficulties. Operators indicated a lack of skills shortages in drilling-related occupations whereas contractors found it increasing difficult in recruiting staff across all occupation types and in particular engineers.

Robert Collier, chief executive of Aberdeen & Grampian Chamber of Commerce, stated: “Research is currently being conducted to identify exactly where skills shortages are most acute to help the industry and training providers alike to identify where the work is required. It is certain that capacity is constraining growth.”

Kenny Paton, oil & gas partner at Bond Dickinson, which sponsored the survey, noted: “In the North Sea fields this year, virtually every contractor is looking to recruit staff, unemployment for skilled workers is negligible and as well as improved benefits, employers are offering wage rises well above the national average to try to retain key staff.”

If you would like to find out more, please click on the link below to download a copy of the Aberdeen & Grampian Chamber of Commerce Oil and Gas Survey, published November 2013.