Preparing Australia's oil and gas workers for uncertain times
Australia has developed one of the strongest natural gas industries in the world and is on track to become the largest exporter of LNG globally following an unparalleled investment boom.
The rapid growth of the LNG industry has created thousands of new jobs and Australia’s core oil & gas workforce has more than doubled from 9,000 to 19,000 workers since 2006. The indirect oil & gas workforce is even more important. In 2016, each oil & gas job sustained 10 other jobs across the supply chain and the wider economy – generating five times more indirect employment than the average industry in Australia.
However, the future of the oil and gas workforce is uncertain. Oil price swings, global supply and demand shifts, and policy changes (exploration moratoria, resources tax) make it difficult to accurately plan future workforce needs.
A new report by National Energy Resources Australia (NERA), the government-funded body tasked with boosting the growth prospects of Australia’s energy resources industry, takes a peek into the future. Based on AlphaBeta analysis, the report presents three scenarios for how Australia’s oil and gas workforce could develop by 2030.