Oilfield services jobs picking up after massive cuts, analyst says | Offshore Energy Today
Oilfield services industry has laid off some 300.000 people since the collapse of oil prices in 2014, however the tide is now turning, according to a Norwegian energy intelligence group.
Rystad Energy has carried out a research according to which service companies within the Shale business are now starting to recruit again and are expected to do so in offshore later this year.
The North American shale industry in particular, Rystad said, took a hard hit with the lower activity levels. Two of the largest land drillers, Nabors Industries and Helmerich & Payne, have announced several staff reductions resulting in an overall reduction above 50%. The Big Four, all exposed to the US land market, were forced to lay off between 30-40% of their workforce. Companies exposed to more of the international market have cut more modestly, in the range of 20-30%.