Australia's oil and gas employment outlook optimistic

A recent report from IBISWorld provides an optimistic view of oil and gas industry jobs in Australia.

A recent report from IBISWorld provides an optimistic view of oil and gas industry jobs in Australia, according to the Herald Sun.

Of all sectors in the nation, the oil and gas industry has the best employment prospects over the next five years, and other industries will likely experience reductions on their workforces. IBISWorld anticipates job opportunities will increase by 11.3 percent each year.

The rise in employment coincides with Australia's $200 billion worth of oil and gas projects that are moving the country into position as the world's largest exporter of liquefied natural gas by the end of this decade, the Herald Sun reported.

The oil and gas extraction industry in Australia has grown over the last five years at a rate of 4.3 percent annually. The sector has reached $48 billion in revenue. The petroleum exploration sector has grown an average 0.5 percent each year over the last five years to reach revenue of $4 billion.

Job competition will also increase, according to IBISWorld Australia General Manager Dan Ruthven.

More information on the oil and gas industry in Australia can be found at PennEnergy's research area.

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