Oil-Gas Australia is undoubtedly booming and even overtaking Qatar as the world’s largest exporter of liquefied natural gas (LNG). It was forecasted by the International Energy Agency that the country will be the largest gas supplier in the coming years.
90 million tons a year are projected to be cultivated for the next three years to satisfy the energy demand of its market until the end of the decade. The demand for LNG skyrockets, this suggests that the resources of Oil-Gas Australia grew critical in meeting energy needs, Neil Beveridge, analysts from Sanford C. Bernstein & Co, said.
Currently, there are six onshore energy projects in the country, three of which are fully operational. Large-scale Australian labour market is on the works with the building of an estimated 15,000 km of new gas pipelines with a continuous operational service for the existing 33,000 km natural gas infrastructures. Operations and maintenance activities are projected to boom substantially by 2020.
Skill Shortage and High Average Salaries
Large-scale Oil-Gas Australia projects pose a great challenge for the local labor market on how its capacity could provide the required skills for the existing demand. There is a genuine skills shortage and domestic workers cannot fill these solely. Australian workers, therefore, will be supplemented with overseas workers to meet every demand.
The skill shortage pushes the sector to make oil and gas Australia workers as professionals with the highest average salaries. According to Hays Plc and Oil and Gas Job Search, workers in Oil-Gas Australia earn an average annual salary of $163,600, which is 35 per cent higher than employees in the US. This salary is actually double the global average.
In the same survey, Australia tops the list of the most lucrative companies for oil and gas workers with $171,000, followed by the Philippines ($170,000) and Trinidad & Tobago ($169,000). Hays added that while other sectors are keeping salaries tight for every candidate, oil-gas Australia workers are very much rewarded with the highest salary in the world.
The nature of the energy sector where a high number of people for the same occupation are needed for a short period of time makes the business of oil and gas recruitment difficult for headhunters even with sky high compensation. But for countries with a poorer economic condition like the Philippines, workers are more welcoming to work miles apart from their home.
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