HOUSTON—The fast paced technology-led oil and gas industry is one of the top career choices of science, technology, engineering and mathematics or STEM millennials and Generation Z (Gen Z), according to a global survey launched by Abu Dhabi National Oil Company (ADNOC). The survey was released at CERAWeek by IHS Markit on March 12.

Tasnim Al Mzaini, head of integrated production planning, digital unit at ADNOC explained the key findings of the survey, which included 3,000 young talents across 10 countries representing a mix of major global economies. According to the survey, oil and gas industry faces stiff competition in attracting top STEM talent from other sectors since 77% of future workforce expressed interest in the technology industry. The top competition is life sciences, health care and financial services.

“The STEM millennial and Gen Z talent of today will be the leaders of tomorrow—and we need those leaders to be the best,” said Sultan Al Jaber, ADNOC Group CEO and Minister of State. “As we enter the 4th Industrial Age, the world’s demand for energy and higher value products is increasing at an unprecedented rate. Our goal is not simply to keep up, but to stay ahead of the curve to meet this demand. This is a mission we at ADNOC are calling ‘Oil and Gas 4.0’.”

An interesting finding of the survey is that nearly 72% of the future workforce believes that new technologies will have an impact on the oil and gas industry. While that is an encouraging perception, efforts need to be made to attract young talents to this industry because of other strong sectors in the race such as technology industry with 89% youth inclining towards the technological impact of the sector.

“The more STEM millennials and Gen Z associate oil and gas with new technologies, the more interested they will be in a career in the industry," Al Jaber said. He added that there is much to do to broadcast exciting changes in the industry to the future workforce and demonstrate that it offers truly rewarding and fulfilling careers.

The ADNOC commissioned survey called Oil and Gas 4.0: Attracting the Workforce of the Future further reveals that the interest in oil and gas industry is higher in emerging economies such as China, Saudi Arabia, UAE and Russia compared to young STEM talent in the G7 economies such as the U.S., Canada, Japan and France who are less likely to pursue a career in this industry. Interestingly, amongst the biggest attractions to work for this industry, 56% feel this industry ‘pays well’, 38% believe that the industry is crucial to the development of national economies while only 26% feel the industry is technology-driven. They also acknowledged salary, work-life balance and job stability as the top career draws of the industry.

Young STEM talent is divided on whether oil and gas is an industry of the past or the future. 45% called it an industry of the future, 44% called it an industry of the past and 11% were uncertain. “Industry of the past” perception appears to be largely driven by a perceived shift to renewable energy as one STEM student said, “Oil and gas are not renewable, so the reserves will run out sooner or later. I’d prefer to invest in greener energies.” On the other hand those who called it ‘industry of the future’ cited oil and gas industry’s economic importance and its use of technology as the top reasons why industry’s best days are still ahead.

Another encouraging find of the survey is the increasing interest of STEM talent in the oil and gas industry as they enter the job market, with 51% young professionals interested in pursuing a career in this sector compared to secondary and university students. Some experience in the job market and tertiary education in STEM subjects are the top reasons for these change in perceptions.

“Oil and gas has always been- and will continue to be- an industry of the future that is at the forefront of technology and innovation. It is an exciting time for STEM talent to join the industry, particularly as we advance our ‘Oil and Gas 4.0 mission’ and embrace new technologies and partnerships for digital and technological transformation across our operations, said Al Jaber.