A new report by the International Research Institute of Stavanger showed that oil and gas industry will need to recruit more than 20,000 workers by 2020 in Norway, the Norwegian Oil and Gas Association said March 10.
The report forecasts 13,000 new recruitment, plus replacement for 9,000 retiring workers. Overall demand for new recruitment will be 22,000 employees.
Currently, oil producers around the world are cutting workforce due to weak oil prices and over supply. This trend will continue to reach bottom in 2018, and then will pick up the pace and rise back to current levels by 2020.
“Based on the new figures we can affirm that those who start on a technological education in autumn 2016 are likely to be welcomed with open arms by the oil and gas industry once they have graduated,” Norwegian Oil and Gas Association CEO Karl Eirik Schjøtt-Pedersen said in a statement.
Further, the report estimates that about 10,000 more positions would be cut by 2018. This employment study assumes that oil price will start improving in 2017.