| he arteries of business and they bleed oil. Anything | | | | resulted in a $33billion backlog of work. All of that |
| that interrupts the flow of this precious black liquid is | | | | needs to be completed, meaning more jobs in the oil |
| likely to send the world economies into freefall. So as | | | | industry, despite the dire news and continuing |
| nervous investors watched the price of oil climb to | | | | economic downturn in almost every other industry. In |
| dizzying heights earlier this year, the fear that it | | | | its current position, the oil industry looks set to ride |
| would lead to an implosion of the world economy | | | | out the recession in style. |
| looked certain to become a reality. | | | | In recent years, the driving forces behind the high |
| In fact, it was the world banking system that went | | | | demand for oil have been the rising stars of China |
| into meltdown, not the oil industry. In the mist of a | | | | and India. As their economies power up, their |
| recession, when the price of everything else seems | | | | appetite for oil has grown exponentially. While |
| to be going up, oil has actually fallen in price to a | | | | China’s third quarter growth has slowed, the |
| more sustainable level. Ordinary consumers have | | | | slowdown has been negligible in comparison with the |
| noticed it at the pumps, with the cost of petrol and | | | | screeching of financial brakes heard in the northern |
| diesel dropping dramatically in what started as a price | | | | hemisphere. It still managed to notch up an |
| war between outlets. What this price war actually | | | | impressive 9% growth rate – practically all of |
| reflected was the fall in oil price per barrel in the | | | | which is dependent on oil. The International Energy |
| commodities markets. So the oil industry is still there, | | | | Agency predicts that China and India will need 300% |
| and they’re still recruiting. | | | | more crude oil for their economies by 2030. That |
| Jobs in the oil industry are highly sought after. True, | | | | figure means more investment in location and |
| the recession has hit here as well, but mainly in the | | | | extraction of existing and new oil fields, which in turn |
| back offices and administration departments, rather | | | | means more jobs in the oil industry. |
| than on the ground or in rigging. Oil rig jobs are still | | | | These figures bolster the promise of a continuing |
| available, and companies, in their continuing search for | | | | boom time for international oil companies, who will |
| more of the precious black stuff, have upped the | | | | carry on investing in exploration and new oil rigs. That |
| ante considerably. | | | | means only one thing – more oil rig jobs, oil |
| If you are an engineer, rigger or driller, there are still | | | | careers and greater job stability for the workforce. |
| plenty of oil rig jobs to choose from. Noble | | | | Factor into this equation the number of workers hired |
| Corporation is bringing five new oil rigs into production | | | | in the 1970’s who are now coming up to |
| between 2009 and 2011, meaning a total of over | | | | retirement, and you can see that now is a good time |
| 1,500 vacancies that need to be filled. The 2007 | | | | to be looking for jobs in the oil industries. |
| merger between Transocean and GlobalSantaFe | | | | |