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Given oil prices have recently been better than they have in a long time, has this resulted in more work or activity for you?
My observation is that jobs are still being cut but more optimism plus some commodity shortages due to previous cut-backs.
Thanks.
Possibly getting a little better. At least, the redundancies are tailng off, and people are feeling a bit more secure. Some folk are even looking at moving to other jobs within the industry, whereas before people were leaving altogether.
Further off on the horizon are much higher prices, as exploration and development has effectively been stopped for the past 4 years, so a likely shortfall in supply is possible.
All in all though, it’s unlikely to even get as good as it was before.
In my segment (subsea pipelines) seeing huge amount of projects in 2019. No more redundancies*, but a frazzled and discontent workforce. Need the operators to stop squeezing the supply chain so that a little bit of profit can be shared.
*that’s not true actually. Hereema will make 350 redundant.
I'm in data management/handling/consolidation/remediation in the process industry, and last year was horribly quiet, this year has swung from months with nothing to do to months with more work than we have staff for, and no way to put clients off, which is a nice problem to have, but I'd rather the work was steady rather than droughts and floods!
Every Is squeezed. People are still quitting and most operators and service companies are looking for low paid grunts to just keep the wellsites running. underinvestment is rife and the drain of good experienced people is continuing.
there are however many more job postings so there might be light but it will never get back to what it was.
There's talk of a busy summer. I know that the vessel day rates are going up both for O&G and renewables.
Nowhere near what they were mind.
I doubt you will see £100k a day for an AHT again.
Purely anecdotal, I've been to Aberdoom a couple of times in the last few months, 15 minutes to get right down to beach boulevard from start of city, was unheard of in previous years.
Best of luck to all in OnG btw, it's been a tough few years.
Things are levelling off and drilling rig utilisation is balancing out. Invergordon isn't as busy as it was! Day rates for the rigs are about 1/3 of what they were at peak mind you.
Some companies are still paying off, and it will never get back to the peak of a few years ago, but there is a feeling of recovery in places.
Valve manufacturer here.
Looking up is all i can say. Still waiting on some big projects though.
l am liking the quieter roads in Aberdeen.
Have the cabbies stopped whinging yet in aberdeen? Last couple of times I’ve been they’ve been having a right old drip.
Managed to survive the downturn and it is picking up where I work but they are still in the save a penny waste a pound frame of mind. We are gradually getting our terms and conditions eroded although we have been told we may be moving off of 3/3 but most of us believe it's just a carrot being dangled to try and stop more people leaving.
I stay local to Aberdeen and no matter how good or bad it is the taxi drivers always have a good moan
I've been hiding in Africa for the last couple of years.
Projects there are drying up though - and the planning lag/exploration reduction means itll be a while before that picks up again
How ever on the plus side I've been getting a lot more interest on jobs in Aberdeen/north sea.
as for my current job - yep terms eroded , I'm on a 5-5 rotation and now they want to keep me on a 5-5 rotation and send me here there and everywhere to cover jobs - if it goes over time thats out of my time off , if I'm not needed they want to keep me off hire and start my rotation from when the job goes live.
what does that sound like to you guys in O+G ..... sounds like adhoc to me , i should know i did that for 8 years already - although on better pay , door to door bonus and with 32 days bookable non negotiable holidays (to allow you to plan shit in your life)
worked out my hourly rate taking into account all of the above - I'm probably as well going back to the bikeshop - short term !
The consultancy I used to work for before redundancy has been advertising for new staff, indeed my old job came up, albeit in London, so that's a no as they don't pay enough for London. There's still a massive amount of competition for marine jobs I'm going for though, which there never used to be.
The consultancy I used to work for before redundancy
bigjim - were you with LOC by any chance?
Nope, frayed knot
I've been out of the loop for almost two years (which I was surprised to see, doesn't seem that long!)
News from friends on the inside is its still miserable, but its reached the point where those most pissed off with constant pay freezes and redundancy are now finding new jobs which is forcing an end to the constant 'at risk' redundancy notifications and actual pay rises.
And I'm constantly getting "someone viewed your profile" notifications from LinkedIn, I've had maybe 10 in the last two years from outside my immediate circle, I've had about 20 this month.
Further off on the horizon are much higher prices, as exploration and development has effectively been stopped for the past 4 years, so a likely shortfall in supply is possible
Dunno, downstream at least there's a large oversupply. We were building plants that were barely viable even in the good years, and were frequently competing against other similar plants being built. LNG in particular was practically given away (but my knowledge is 2+ years out of date).
Further off on the horizon are much higher prices,
Not sure about the horizon but prices for 6-month delivery are lower than they are today. For what that's worth.