28 January 2022 - 05:00The oil and gas industry trumpets its ability to stimulate employment, encourage local entrepreneurship, reduce poverty, increase knowledge creation and generate economic prosperity through extensive and widely beneficial supply chains.
You would do better to play the lottery than bet on the number of jobs an oil and gas project will create. Employment levels fluctuate throughout different phases of the oil and gas project life cycle, with little employment during exploration, peak numbers during the construction phase, few during operations and gradually decreasing in the decommissioning phase.
In practical terms, successful job role localisation examples are few and far between. The concept’s targets cause the industry headaches because oil and gas operations work according to high technical standards and are geared to inflexible deliverables and targets, often underpinned by government insistence on immediate and substantial revenue income.
Strategic management of these often incompatible interests is not easy, and most governments that try to mediate these interests fail.
The privatisation economic model shoved down the throats of the country's political elite promised trickle down economic development which citizens are still grappling to gain from. The oil and gas story is too good to be true against pre-94 deal background.
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Source: BusinessTechSA - 🏆 24. / 61 Read more »