Domestic oil cos to continue hiring despite price slump

State-run oil companies will continue to hire engineers and geo-scientists, unlike their global peers who are in a laying off mode because of low crude oil prices, officials said.
ONGC has chalked out a robust plan to induct young geo-scientists and engineers over the next 15 years, ONGC Director (HR) DD Misra said while interacting with science graduates at a conference here.
Addressing the students, Misra said in spite of efforts made by the sector, there continues to be an industry-academia gap in the petroleum industry which requires the oil companies to invest a period of 8-10 years to prepare a graduate into an industry-ready professional.

"It is this long-term vision that we continue to build HR capacity in the industry even in the low points of the crude oil price cycle," he said.
Speaking at the conference, Oil India Director (Exploration) S Mahapatra also echoed the same, saying that both domestic upstream exploration and production companies are eyeing a bigger growth, mapped in their perspective plan 2030.
The 11th biennial international conference and exhibition of the Society of Petroleum Geophysicicts (SPG) is witnessing a number of global experts of the sector brainstorming on the frontier technologies in the industry to better explore oil and gas so as to improve production.