The UK oil and gas industry is a global centre of excellence in engineering, manufacturing and technology and a significant and established provider of energy, employment, investment, exports and tax revenues for the UK economy. Also, whilst appreciating that the industry plays a central role in the UK’s internal economic health by providing employment; its impact on the state of the nation’s trade with other countries is arguably even greater. Currently, oil and gas provide some 75% of the UK’s total primary energy and in 2020, 70% of primary energy in the UK is still calculated to come from oil and gas, even if the 15% target for renewable energy is met.
In the UK, the first nuclear plant to be built in 20 years, Hinkley Point C, is due to come online in 2023, creating over 25,000 jobs. The agreement is fantastic in terms of job creation however; it will have an impact on the talent available for the oil and gas industry. There are only so many skilled engineers to go around and the nuclear industry could find itself facing a similar talent crisis to that being experienced by the oil and gas sector. Also, the drive towards extracting oil and gas reserves from unconventional sources, such as shale, is putting pressure on the ability of the global energy sector to hire experienced people with the right skills for a predicted jobs boom.
The Cordant Group supplies contract and permanent personnel covering a diverse range of disciplines throughout the oil and gas industry. We have a solid reputation for working alongside our clients in accommodating them to meet their targets in this demanding and increasingly fast-paced market.