Wed 13-03-2019 12:56 PM
ABU DHABI, 13th March, 2019 (WAM) -- One in two (52 percent) of Emirati STEM (Science, Technology, Engineering and Mathematics) Millennials and Generation Zs (Gen Z) is interested in pursuing a career in the oil and gas industry, according to the UAE's findings released today from the Abu Dhabi National Oil Company’s, ADNOC, inaugural global "Workforce of the Future" survey.
The interest level of 52 percent from UAE STEM talent in the oil and gas industry is higher than the global average of 44 percent.
The results also show that 85 percent of Emirati STEM Millennials and Gen Zs are interested in pursuing a career in the technology sector, 65 percent in transport/logistics, and 64 percent in both financial services and aviation.
Interest in oil and gas is on par with the healthcare (56 percent), hospitality (55 percent), life sciences and pharmaceuticals (53 percent), marketing and advertising (51 percent), and retail (48 percent) industries, indicating that the oil and gas industry is facing strong competition in attracting top STEM talent.
The survey was commissioned by ADNOC to examine future workforce and employment trends in the oil and gas industry, particularly as the industry looks to attract STEM talent and enable the 4th Industrial Age. This is in line with ADNOC’s Oil and Gas 4.0 mission to help meet the world’s increasing demand for energy and higher-value products by fostering a dynamic and performance-led culture that cultivates talent and applies the latest technology to optimize resources.
The survey interviewed STEM students and young professionals aged 15 to 35 in 10 countries in North America, Europe, Asia, and the Middle East that represent a mix of significant global economies, and producers and consumers of oil and gas. Specifically, the survey looked at their perceptions across multiple STEM-related industries, including oil and gas, and the skills they value and believe are required to succeed in these industries.
On a global level, the overall findings across the 10 countries show that STEM Millennials and Gen Zs show the most interest in industries they believe will be the most impacted by new technologies. Globally, 42 percent say that new technologies will have a major impact on the oil and gas industry, while 56 percent say the same for healthcare, 53 percent for life sciences and pharmaceuticals, and 73 percent for the technology industry. Nearly 3 in 4 (72 percent) STEM talent globally believe that new technologies will have an overall impact on the oil and gas industry, compared to 9 out of 10 for the technology sector.
Commenting of the findings, Dr. Sultan Ahmed Al Jaber, Minister of State and ADNOC Group CEO, said, "The global findings from the ADNOC ‘Workforce of the Future’ survey show that the more STEM Millennials and Gen Zs associate oil and gas with new technologies, the more interested they will be in a career in the industry. The oil and gas industry should position itself at the cutting-edge of technology and showcase how breakthrough innovation is vital to every aspect of our business across the upstream and downstream value chain.
"The world’s demand for energy and higher-value products continues to increase at an unprecedented rate. In order to meet that demand, our industry must stay ahead of the curve and ensure we continue to attract, retain and develop our young people. As we enter the 4th Industrial Age, we need to come together as an industry and – with our technology industry partners – better highlight the exciting opportunities that our dynamic industry offers young talent with strong technology skills," he added.
Other key UAE findings include: - "Salary," "job stability," "job benefits," "sector and company reputation", and "working at the forefront of technological advancement" are ranked the top five drivers behind potential career choices for STEM Millennials and Gen Zs in the UAE.
- Of those that cited an interest in a career in oil and gas in the UAE, "salary," "stature of the industry," and "impact on the development of the economy" were cited as top reasons for their interest in the industry.
- Young Emirati STEM talent also ranked the top three attributes of the oil and gas industry as "technology-driven," "future-facing," and "innovative," versus global peers who selected "the industry pays well," "the industry is crucial for their country’s economy and development," and "it is an industry we couldn’t live without" as the top three attributes.
- Consequently, Emirati STEM talent appear more confident that oil and gas is an "industry of the future" (77 percent of UAE respondents say oil and gas is an "industry of the future"), compared to global peers (45 percent of global respondents say oil and gas is an "industry of the future").
- Nine in 10 Emirati STEM Millennials and Gen Zs also view ADNOC as a company that uses new and innovative technologies.
"Oil and gas has always been – and will continue to be – an industry of the future that is at the forefront of technology and innovation. It is an exciting time for our industry, particularly as we advance our Oil & Gas 4.0 mission at ADNOC, and embrace new technologies and partnerships for digital and technological transformation across our operations," Dr. Al Jaber noted.
"While we are pleased that STEM Millennials and Gen Zs acknowledge ADNOC as a company that uses new and innovative technologies, the work does not stop here. We strongly believe that engagement starts young and – in line with the UAE Centennial 2071 vision – we are committed to continued investment in STEM educational programmes designed to empower and foster next-generations skills in our industry and across the UAE," he concluded.