Singapore is continuing to evolve as a key market in the international energy industry. Already the undisputed oil hub of Asia and one of the world’s top export refining cities after Houston and Rotterdam, it is predicted to become a major international LNG trading centre. By 2015, Singapore will account for 3.87 percent of Asia Pacific’s regional oil demand despite having no natural resources in the form of oil or gas.
In 2006, the Singapore Government announced its plan to import LNG and build the nation’s first LNG receiving terminal to fulfil the rising demand and to diversify its sources of natural gas. The LNG receiving terminal will have an initial capacity of 3.5 million tonnes per annum (Mtpa), with provision for expansion to 6 Mtpa or more if required. Operations are to begin in the second quarter of 2012 and a second and third terminal are set to be developed in 2014. The terminals will further establish the city-state as a trading hub and will drive the creation of job opportunities for Singaporeans. The investments going into supplying LNG demand in Asia, which include prospective unconventional gas projects in places like China, Indonesia, Malaysia and Australia, are enormous. Skills in this part of the industry are still scarce globally and the right recruitment partner will be able to help companies tap into resources to staff these projects.
In a recent study, the International Energy Agency predicted that the global energy demand would increase 30 percent by 2035, with Asia as the clear leader in driving this demand. Production activities in Brazil, the Gulf of Mexico and elsewhere in the Asia-Pacific region will supply much of the demand. This growth is reflected in Singapore in the buoyant turnover of the offshore marine industry. The Singaporean Ministry of Manpower has created the Strategic and Skills-in-Demand list to outline the occupations key to continued economic growth.Energy sector roles include: petroleum engineer, project engineer, reservoir engineer and well engineer. These skills gaps are echoed by leadership teams within Singapore-based companies who stress the need for technical talent in exploration, drilling, business consulting and construction. All of these individuals must have the ability to apply their knowledge to international projects. A rise in global investments in this sector will also drive demand on the contractor side. This demand will affect contract companies in Asia, regardless of the operators’ locations. For example, contractors based in Asia are expected, in places like Brazil, to provide local content which adds to the complexity of executing projects from your home base. Continued international success will be determined by the quality of their delivery model, which relies on the people they hire.
The net effect is likely to be increased demand for individuals who are able to execute large projects and for experienced staff that could move internationally within the region. Companies are faced with recruitment challenges and those with the best strategies to secure top talent will come out on top. Contact Singapore has been developed by the local government to entice talented Singaporeans overseas to return home. The number of Singaporeans studying overseas who signed up for Contact Singapore's career sessions in 2011 has more than tripled compared to 2010’s figures, indicating heightened interest in returning home to work. The most effective strategies combine the recruitment of local talent with outsourced recruitment to firms with the capability of locating international talent in specialty roles. People with the right skills become a valuable commodity in a global market and Maxwell Drummond’s global network and local expertise allows us contribute to clients’ projects and business aims across the Asia Pacific region and beyond.
About the authorPhilip de Waal was appointed as Vice President Asia Pacific for Maxwell Drummond in September 2011. He joined the Houston office of Maxwell Drummond in 2007 as Business Development Manager. From September 2007 until August 2011 he established a presence for Maxwell Drummond in Africa by opening an office in Johannesburg.
No comments:
Post a Comment