OFS Job Market Outlook Appears Grim, Particularly for North American Onshore Opportunities

Turmoil wrought by the global pandemic has upended activity across the energy sector and led to massive layoffs, with staffing forecast to plummet by year’s end to its lowest level in more than a decade.

An analysis of the top 50 oilfield services (OFS) operators by Rystad Energy found staffing would decline and anticipated revenue per employee also heading south. The analysis tracked the permanent employee count of the OFS operators, including reported permanent employees at year-end. 

“OFS employment is now heading for the lowest numbers in the past decade as the Covid-19 pandemic continues to impact ongoing work and the frequency of new awards, both of which could take years to fully recover,” said Rystad’s Lein Manm Hansen, energy service analyst....