In the pre-COVID-19 environment, "Australia has developed one of the strongest natural gas industries in the world and is on track to become the biggest exporter of liquefied natural gas (LNG) globally following an unparalleled investment boom. [...] The strong expansion of the LNG industry has caused Australia’s core oil and gas workforce to more than double from 9,000 workers in 2006 to 19,000 workers in 2016. [...] However, the future of the oil and gas workforce is uncertain. The industry’s ability to create new jobs has always been heavily dependent on a range of external factors that are difficult to predict, including the oil price, global supply and demand, and government policy." - National Energy Resources Australia (NERA)
The report by NERA, which is entitled "Preparing Australia’s future oil and gas workforce - three scenarios for workforce change", utilises "scenario-based analysis to describe how Australia’s oil and gas workforce might look in 2030. It sets out three scenarios to estimate the potential direction of industry growth and employment, as an exercise to test how the oil and gas workforce might react in a range of situations – from a sharp drop in oil prices to a reversal of current government policy" - NERA. All scenario's were developed pre-COVID-19, but may have relevance today.
Access the full report here.
Image source Chevron Australia.