Bloomberg News

Australia ‘Hotspot’ With Oil Pay Double World Average, Hays Says

February 17, 2012

Feb. 17 (Bloomberg) -- Salaries for oil and gas workers in Australia rose 17 percent to average about $169,000 a year, more than double the global level, as liquefied natural gas ventures compete for workers, the U.K.’s largest recruiting company said.

That makes pay in the Australian energy industry the highest in the world, Matt Underhill, Sydney-based managing director of oil and gas for Hays Plc, said in an e-mail today. The global average is about $80,000, Hays found in a survey analyzing salaries in September and October for professionals including project managers, geologists and engineers.

Skills shortages are “being felt most acutely in Australia and South America, the two hotspots in the world where local resources are most stretched,” Hays said in the report.

Australia has eight LNG ventures under development, driven by increasing Asian demand for the less-polluting alternative to coal. Chevron Corp., Royal Dutch Shell Plc, Woodside Petroleum Ltd., Santos Ltd., ConocoPhillips, BG Group Plc and Inpex Corp. are building about $180 billion of LNG projects in Australia to supply consumers including China and Japan.

The average oil and gas salary in Australia is $164,000 for local hires and $173,100 for workers from abroad, according to the report.

--Editors: Ryan Woo, Andrew Hobbs.

To contact the reporter on this story: James Paton in Sydney at jpaton4@bloomberg.net

To contact the editor responsible for this story: Amit Prakash at aprakash1@bloomberg.net.


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