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Friday, June 6, 2008

Report: Oil engineer shortage hurting production

WASHINGTON — The global oil industry has been hampered by a shortage of engineers.

The Cambridge Energy Research Associates has warned that a shortage of engineers and project managers would harm efforts to increase global oil output. The Massachusetts-based consultant said the industry would be short of 15 percent of its required engineers.

"Pressure in the industry continues to increase as companies vie for the limited pool of skilled resources, and personnel costs rise as companies recruit from each other," Pritesh Patel, a CERA associate director, said.

Also In This Edition

A report co-authored by Patel reviewed engineering and management requirements for more than 400 projects expected to begin over the next five years.

The consultant said engineers have become vital for oil exploration and production amid the trend for offshore development.

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