As Cuba is no longer focusing on offshore development and with many operators, especially U.S. firms, foregoing any possibilities of keeping the offshore talent close to home in the Caribbean with development opportunities due to the embargo, this lack of needs does not alleviate them from a brutal war for talent as there is an overall increase continuing to grow in offshore development. This also spreads the talent needs geographically, without very much concentration in one area as there are very few regions that are decreasing output or exploration.
But, the biggest strain on talent has come from the tremendous success of North American Onshore development that has occurred within the last decade. Because there are more and more independent producers coming on-line or coming of age, they are depleting an already shallow pool of talent which exists in Oil & Gas. If you’ve read any of my previous articles, you have seen the qualified professional to existing position ratio of 3:5. The scale for offshore is even greater as it is not replacing the professionals exiting Offshore at nearly the same rate as the Onshore producers have. With the “ideal” experienced candidate being an individual with 8-12 years’ experience, that undergraduate talent pool which comprises this level of experience has been almost entirely absorbed by the Onshore market since 2002. Creating an even larger gap in this scenario is the fact that attrition is retiring senior level professionals at a similar rate as Onshore, the growth/experience of the junior staff does not increase at an identical rate to them as capable as an Onshore professional to assume higher levels of responsibility. This is not saying one is better or more intelligent than the other. It is simply statement that leadership will state takes longer to develop due to differing complexities of the differing plays.
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