Demographics Report 2014

UKCSOFFSHOREWORKFORCEDEMOGRAPHICSREPORT2014

In previous years there appeared to be a correlation between the number of personnel working offshore and the oil price, with a time lag of one year (see Figure 5 below). If this trend was to continue, we would have seenaplateau in thenumberof personnel in2013.However, thenumberof offshoreworkershas continued to increase,while theaverageoilpricesatat$109 (adecreaseof$3perbarrel from2012), thereforedisconnecting theapparent correlationbetweenoffshorepersonnel and theoil price.

Figure5: TheTotal Number of Personnel TravellingOffshorebetween2006and2013 Versus theAverageOil Price

200

42,00 0 44,000 46,000 48,000 50,000 52,000 54,000 56,000 58,000 60,000 62,000 64,000

180

160

140

120

100

80

60

Number of Personnel

40

Total Numberof Personnel

AverageOil Priceper $per Barrel

Oil Price /$

20

0

2006 2007 2008 2009 2010 2011 2012 2013

Source: VantagePOB Source: VantagePOB

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