The oil and gas industry has experienced its fair share of ups and downs over the last couple of decades. The most recent downturn was caused by the slowdowns created by the COVID-19 pandemic, in which more than 100,000 people in the industry were laid off and others taking pay cuts and furloughs. As we look to future pipeline employment, companies have plenty of challenges on their hands. Here are some of the factors that may give us a clearer picture of the future of oil and gas pipeline jobs.
Cyclicality Is A Major Concern For Oil And Gas Companies
People who had previously been interested in pipeline careers or who are currently interested are looking closely at the cyclicality of the industry. Large-scale layoffs can be frightening to new talent looking to break into oil and gas pipeline jobs, and companies are having a challenging time combatting this uncertainty. The COVID-19 pandemic has largely caused the downturn of the economy and the oil and gas industry, and the after-effects of it could create even more change.
Could Jobs Be Coming Back Soon?
Many oil and gas experts believe the majority of the jobs lost during 2020 won’t return in the same capacity in the next year. This could change depending on how the economy rebounds, and this prediction is based on the market staying at or near what it is currently. The worry is the recovery for pipeline employment will be much slower through 2021 and even into 2022. The unknown factors play a large role in what employment could look like in the future.
Many Challenges Are Based On Unknown Factors
As with many things surrounding the COVID-19 pandemic, uncertainty has put the viability of oil and gas pipeline jobs in question. Some of the unknown factors that are presenting challenges for oil and gas companies include:
- Whether green energy becomes more prominent and is the focal point of the industry
- Whether uncertainty creates concerns for talented individuals about job security
- Whether the pandemic creates a shift into more permanent work-from-home models, thus reducing the need for as much oil and gas
- Whether the pandemic means new employment opportunities and more hybrid-type roles
How The Oil And Gas Industry Could Evolve
Oil and gas companies have to begin evolving now, even during times of high uncertainty. Sustainable energy has only scratched the surface, so oil and gas companies must learn to adapt to it. Mass layoffs have also created the opportunity to recode what pipeline careers look like. This could be based on the relationship between machine and human collaboration to attract top talent that is focused on data management and analysis. Agility and adaptability within an organization, and the oil and gas industry as a whole, will be the major determining factor when it comes to the future of the industry.
The Pipeline Connection strives to help talented individuals find the perfect pipeline jobs to maximize their talent. There’s no question about the uncertainty surrounding the industry, but our experts stay on top of the latest developments, so you have all the information you need. Don’t hesitate to contact us to learn more about the current and potential opportunities available to you.