What could the rise of fracking mean for jobs in the oil and gas market?

Much has been made of hydraulic fracturing or ‘fracking’ – the process of extracting natural gas through drilling and injecting fluid into the ground at a high pressure to crack shale rocks – and its use in the UK. However, the process could have a significant impact on jobs and has the potential to transform the energy market.

Creating jobs

That’s according to Prime Minister David Cameron who has given his support for fracking and believes the whole of the country must “get behind” the process.

In an editorial for the Daily Telegraph, the PM believes the process has the potential to create thousands of jobs as well as reduce energy bills for consumers. He also suggested that if communities can really see the benefits as well as receive assurances regarding the environment, he doesn’t see why fracking “shouldn’t get real support”.

He cites one study that predicts fracking could create 74,000 jobs in the event of a thriving shale-gas industry. However, it is not just the oil and gas markets that will benefit from added jobs; there will be a whole supply chain that will be able to create jobs. For example, the construction of new access roads for trucks in order to facilitate the process of fracking will benefit both the construction and logistics industry.

Communities

Communities will also benefit from the process, according to Cameron. The PM has struck a deal with a number of firms to pay £100,000 to every community situated near an exploratory well. If shale gas is extracted from the well, one per cent will then go straight back to residents; a deal that could see as much as £10 million handed to communities.

Cameron suggests this windfall “could be used for a variety of purposes – from money off the council tax bill to investment in local schools.” In addition, the money could also be used to boost employment and recruitment in these communities, benefiting not just the oil and gas markets.

“It’s important that local people share in the wealth generated by fracking,” he added.

However, he has also vowed to ensure fracking is safe, claiming the UK has one of the most stringent regulatory systems in the world. If any shale gas well were to show a risk of pollution, Cameron claims the country has “all the powers we need to close it down”. Furthermore, the PM outlines there is no evidence that fracking could contaminate water supplies or trigger earthquakes.

As a result, the rise of fracking could have a noticeable positive impact on oil and gas jobs in the UK. If fracking becomes commonplace, thousands of jobs could be created, leading to prosperity and growth in the sector. Furthermore, other industries and local communities have the potential to benefit from fracking as more jobs will be created to facilitate the technology’s use.

Cameron claims 11 counties in the UK contain 1,300 trillion cubic feet of shale gas, with just a tenth of that figure giving the UK 51 years’ gas supply. As a result, Cameron is in full support of the process of fracking – a backing that should reassure those on the hunt for jobs in the oil and gas industry.

Written by Randstad Middle East part of Randstad, the leading specialist recruiter. Present in 46 countries, employing over 28,000 people & helping over 2.5 million people find work worldwide every year. We pride ourselves on our professional, personable approach to recruitment – an attitude that is truly ‘lived’ by everyone in our organisation, known for its strong & consistent values ‘to know, serve & trust’. Find us at http://www.randstadmena.com/

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