In the last two weeks I attended two big events in the oil and gas industry; the Annual Technical Conference and Exhibition ( ATCE ) in Dubai, and Malaysia Oil and Gas Services Exhibition And Conference ( MOGSEC ) in Kuala Lumpur. It has been quite an experience, especially attending ATCE as it was my first time. I have attended MOGSEC before and I noticed how things have changed due to the current oil market downturn.
It was obvious that the participation of both oil and gas companies (exhibitors) and oil and gas professionals (visitors) was not that good compared to the last time I attended. You can easily notice that many things have changed, mainly that fewer companies are participating in the exhibition. The attendance was also not as high as it used to be. You can also notice a shift in the companies focus and priorities. They are now more focused on efficiency and operation optimization, which is a great thing that we should be thankful to the market downturn for.
During both exhibitions, I took some time to go around visiting few of the oil and gas companies booths and I tried to ask them few questions about state of the oil and gas industry, future trends, and recruitment activities. I asked them how they see the oil and gas market in the coming months. Are things getting better? Or getting worse? Are the oil and gas companies finished laying off their employees or is it still going on? Are there any recruitment activities going on right now? And how about fresh grads and internship? Are companies still taking those in or not? I asked all these questions, and the answers were not good at all.
In fact, the answers were as I expected. Many company representatives believe that the current situation in the oil and gas industry will not change fast due to the nature of the current competition between shale oil producers and the Saudis. They believe that the oil market recovery process will take much longer, perhaps two to three years. However, few of those who I asked believe that the oil industry is recovering right now. They said that the process is slow, but it is happening. And they believe that things will get better by next year.
Unfortunately, the bad news is; after two years into the downturn, many oil and gas companies’ HRs still believe that the lay-off wave will continue. Not just this year but into next year as well, but at a slower rate as companies have laid off the majority of their unneeded workforce earlier last year and this year as well. However, few HRs said that as oil prices are rising now, things are improving and recruitment activities could pick up anytime soon.
The general overview is that recruitment activities are very low right now, and few companies representatives said that they are still freezing their recruitment activities. For fresh grads and young professionals, many of the HRs I asked expressed that they are sorry about what fresh graduates and young professionals are facing right now. However, not many companies said that they are not taking fresh grads anymore. In fact a good number of HRs replied that they are still recruiting fresh grads, but in very low rate compare to last two years.
Their advice to fresh graduates and young professionals is; to apply for jobs as early as possible; to try to sell themselves better; and not to apply only in the oil and gas industry, but to other industries close to the oil and gas industry as well. The point is, to make a living, to gain some work experience and to cultivate transferable skills. They also believe that, the current downturn is a good time for those who want to further their studies, as waiting with no job is not an option for many.
These were some of the answers to the questions I asked the representatives of the companies I visited and I wanted to share with you to help you decide on your next step. I have to say that these answers were confirmed by few friends I met during both conferences whom were laid off just recently.
What I can tell you is, the oil industry will continue to experience the negative consequences of the current oil market downturn for sometime ahead. If you already secured a job, do your best to keep it by proving your worth to the company. Don’t take it for granted, because many people out there are looking for your position and companies are just looking for those who can give more.
Even if you have a job right now, it is important to do one more thing, be prepared to be laid off at any time. Because you never know when it is coming. By that I mean, you stay vigilant for a better job opportunity all the time. You should also have a side income which many of those who were laid off wish they have done it. The point is, stay prepared.
And for students and fresh graduates, try to present yourself well, show your skills, don’t be shy, approach people, ask for help, and if you can’t secure that job or internship in the oil and gas industry, it is not the end of the world. What are we really looking for is to make a living, and that can be done in the oil industry and outside as well. Develop your network with people from other industries. Cultivate as many transferable skills as you can. These skills will be helpful whether in the oil industry or outside. And no matter what happened, don’t give up. Hardships and difficulties are meant to make us stronger and more confident to face whatever that is coming in the future.
