foreign manpower tightening

[ScoobyDoes]

It may serve as a stop gap during financial weakness. O&G may be going away but it's not happening that fast. At least not in the next 3 years or so.

The only difference between finance and O&G is that O&G knows its days are numbers albeit it doesn't know how many days.

Singapore has the problem it keeps turning bad news into good, preserving the idea that all is not as bad as it could be. A drop of 30% in the sale of private flats for example, still brings out the same old lines about 'safe bet', 'more people coming', 'it's not as bad as it appears as prices are still looking to go up', blah, blah, blah.

The local population is lulled into a sense of security that makes the bubble worse, with more dramatic issues if/when it eventually does fail.

[Callput]

Depends on whether you guys are talking about SG or globally. I think in SG, banking is safer than O&G. But globally, O&G is safer atleast for the next few years.

[Sergei82]

At least not in the next 3 years or so.

Depends on country. If the world goes crazy allowing Qataris to pump oil in Antarctica, then sure the industry will last long. Russia also lives mostly on natural resources, and it frightens some people there. Not sure about Canada, but sure their perspective is becoming Russia #2 in the future in that respect.

Anyway, I don't know a huge lot about O&G, but I think those who manage to hold on to finance now is much better off than those who goes to O&G and than return in panic 10 years later.

[offshoreoildude]

At least not in the next 3 years or so.

Depends on country. If the world goes crazy allowing Qataris to pump oil in Antarctica, then sure the industry will last long. Russia also lives mostly on natural resources, and it frightens some people there. Not sure about Canada, but sure their perspective is becoming Russia #2 in the future in that respect.

Anyway, I don't know a huge lot about O&G, but I think those who manage to hold on to finance now is much better off than those who goes to O&G and than return in panic 10 years later.

There is NO finance industry without energy (think of O and G in energy supply terms). Without us, you'll be living in caves in Bukit Timah doing your spreadsheets on a rock wall with charcoal and bickering about the ROI on a new horse purchase. I, frankly, can't wait for that day.

[sundaymorningstaple]

OSOD, spot on. Except I dun wanna go back to pictograms. My drawing sucks so I'd end up with the old swayback nag every time!

[offshoreoildude]

IF anyone wants to learn more about OnG - join the Singapore chapter of Society of Petroleum Engineers and/or SEAPEX - the South East Asian Petroleum Exploration society. Both do a lot of education and we have many finance people in these groups. Both meet monthly in Singapore.

[Sergei82]

IF anyone wants to learn more about OnG - join the Singapore chapter of Society of Petroleum Engineers and/or SEAPEX - the South East Asian Petroleum Exploration society. Both do a lot of education and we have many finance people in these groups. Both meet monthly in Singapore.

Can you outline briefly image of IT in O&G?

And avg salaries for seniors/managers in IT there (not in rupees, please).

[offshoreoildude]

IF anyone wants to learn more about OnG - join the Singapore chapter of Society of Petroleum Engineers and/or SEAPEX - the South East Asian Petroleum Exploration society. Both do a lot of education and we have many finance people in these groups. Both meet monthly in Singapore.

Can you outline briefly image of IT in O&G?

And avg salaries for seniors/managers in IT there (not in rupees, please).

IT is huge in OnG. A big part of the industry. Everything from 3-D Seismic software to Risk Analysis to Financial Modelling. Salaries? No idea... troll some service company job board (weatherford, haliburton, schlumberger, baker hughes).

[sundaymorningstaple]

I worked in the Seismic Industry like OSOD did back in the early 90's. Each of those boats are nothing but one giant computer, trailing miles of seismic cables/guns in single or multiple arrays.

[Brah]

Thanks OSOD - Sergei, whaddya say you and I and others in this thread who have interest take his suggestion and mass-crash the next one of these society meetings for more info?

http://www.seapex.org/exhibitions-conferences.php

The one O&G headhunter I contacted said that the transition would be too difficult, I don't believe that for a minute. Need better headhunters....unfortunately all the ones I know are Finance-only.

IF anyone wants to learn more about OnG - join the Singapore chapter of Society of Petroleum Engineers and/or SEAPEX - the South East Asian Petroleum Exploration society. Both do a lot of education and we have many finance people in these groups. Both meet monthly in Singapore.

Can you outline briefly image of IT in O&G?

And avg salaries for seniors/managers in IT there (not in rupees, please).

IT is huge in OnG. A big part of the industry. Everything from 3-D Seismic software to Risk Analysis to Financial Modelling. Salaries? No idea... troll some service company job board (weatherford, haliburton, schlumberger, baker hughes).

[Sergei82]

Thanks OSOD - Sergei, whaddya say you and I and others in this thread who have interest take his suggestion and mass-crash the next one of these society meetings for more info?

http://www.seapex.org/exhibitions-conferences.php

The one O&G headhunter I contacted said that the transition would be too difficult, I don't believe that for a minute. Need better headhunters....unfortunately all the ones I know are Finance-only.

Can you outline briefly image of IT in O&G?

And avg salaries for seniors/managers in IT there (not in rupees, please).

IT is huge in OnG. A big part of the industry. Everything from 3-D Seismic software to Risk Analysis to Financial Modelling. Salaries? No idea... troll some service company job board (weatherford, haliburton, schlumberger, baker hughes).

Fortunately, I'm in IT, which is universally applicable. And Risk Analysis and Financial Modelling both look quite attractive. Tired of that exchange connectivity I'm working with for the last few years.

Are you proposing to go out for the chapter meeting? Or you meant if we all mass-crash into O&G industry together at the same time, that industry is screwed?

[Brah]

I meant one of their meetings.

Agree, if you can get into Risk it's a viable area for a long time to come; for what I do not sure I can make that kind of transition. While what I do is supposedly portable, there's so much specialization, and with it being a buyer's market, a harder sell for me.

For some Finance IT roles, and for some of those roles in Singapore, I think it's going to go soft for a while, I'm thinking to bridge that with a transition out, either temporarily (if I can and find I don't like it) or permanently (if it's more secure or similar paying or as interesting or all of the above).

Thanks OSOD - Sergei, whaddya say you and I and others in this thread who have interest take his suggestion and mass-crash the next one of these society meetings for more info?

http://www.seapex.org/exhibitions-conferences.php

The one O&G headhunter I contacted said that the transition would be too difficult, I don't believe that for a minute. Need better headhunters....unfortunately all the ones I know are Finance-only.

IT is huge in OnG. A big part of the industry. Everything from 3-D Seismic software to Risk Analysis to Financial Modelling. Salaries? No idea... troll some service company job board (weatherford, haliburton, schlumberger, baker hughes).

Fortunately, I'm in IT, which is universally applicable. And Risk Analysis and Financial Modelling both look quite attractive. Tired of that exchange connectivity I'm working with for the last few years.

Are you proposing to go out for the chapter meeting? Or you meant if we all mass-crash into O&G industry together at the same time, that industry is screwed?

[ScoobyDoes]

Agree, if you can get into Risk it's a viable area for a long time to come;

Unless you work for BP......somebody screwed up their risk assessment

Since Nuclear Fusion Reactors are closer now but a lot of development is required and I'd prefer we stopped ruining landscapes in the meantime with costly, inefficient windfarms.

While OnG has been useful in development through the decades we must surely be ringing the bell for last orders.

[Brah]

See my post in the Eagles sticky

http://forum.singaporeexpats.com/ftopic ... highlight=

[ScoobyDoes]

See my post in the Eagles sticky

http://forum.singaporeexpats.com/ftopic ... highlight=

Personally not free until after Dec.5th but then only up to 18th......ah, the life of a jetsetting multi-billionnaire never slows