Now that we seem to be heading into a recession, are you wondering if
oil rig companies are still hiring? Well, that depends. If you happen to work in the office, your prospects aren't too bright. But if you work in the field, the good news is that there are still plenty of drilling rig jobs. For example, Noble Corporation is bringing 5 new oil rigs to production around 2009-2011, and will need 1500 vacancies filled. When Transocean and GlobalSantaFe merged in 2007, they reported an order backlog of $33 billion. Recession or not, that is still a lot of work waiting for workers to complete.
Sure, the newspapers report that worldwide economic growth is slowing. But it's all relative. In recent years, China's economy has been one of the drivers behind high demand for oil. While China's 3rd quarter growth has indeed slowed down from it formerly blistering double-digit pace, it is still a pretty hot 9%. In fact, the International Energy Agency predicts that China and India will need 300% more crude oil for their economies by 2030.
In recent years, China's government has been lambasting Americans for rampant consumerism, living beyond their means and causing instability in the world economy. And yet, IEA analysts say that China will replace the U.S. as the world's largest energy user by 2020. In fact, they predict a 600% increase in the number of cars in China by 2030. Ironic, isn't it?
Whatever you may personally think of India and China, these numbers are a very strong reason for oil rig companies to continue investing in oil exploration and new oil rigs. And given that so many drilling rig jobs are being filled by graying workers hired in the 1970s who will be reaching retirement age in the coming few years, your prospects of getting oil drilling jobs remains strong.
As you can see, these are the two major reasons why
oil rig companies are still hiring for drilling rig jobs: 1) demand for oil from China and India replaces the slack from the America; 2) workers hired in the 1970s retiring soon.
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