CATEGORY

Offshore Labor

Labor is a worker/ tradesperson employed in the physical construction of the built environment and its infrastructure. Based on the location they work, labor could be named as Onsite and Offshore Labor

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Category Alerts

CATEGORY ALERTS

European gas prices fall after the Norway's government intervened to end the oil and gas strike

July 07, 2022
alert level: Medium
CATEGORY ALERTS

Shell to shut down vessel after workers reject $30,000 pay rise

July 13, 2022
alert level: Medium
CATEGORY ALERTS

Shell wage war gets worse at Prelude LNG off of Australia

July 21, 2022
alert level: Medium

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Offshore Labor Industry Benchmarks

Savings Achieved

(in %)

The average annual savings achieved in Offshore Labor category is 16.40%

Payment Terms

(in days)

The industry average payment terms in Offshore Labor category for the current quarter is 75.0 days

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Targeted Savings

Risk Mitigation

Financial Risk

Sanctions

AMEs

Geopolitical Risk

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Price per Unit Competitiveness

Specification Leanness

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    Offshore Labor Suppliers

    508
    Total Suppliers
    21
    Diverse Suppliers
    100
    Normalized Supplier Rating
    Offshore Labor Supplier

    Find the right-fit offshore labor supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.

    Sample Supplier
    Company
    Brenntag SE
    Location
    Jackson, Mississipi
    Duns number
    3862211
    D&B SER Rating
    dnb logo

    Up to 3 months

    1 9
    2
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    Moody`s ESG Solution
    ESG Profile
    Company and Sector Performance
    41
    100
    Limited (1)
    ESG Perfomance (/100)
    Environment
    38
    Social
    37
    Governance
    51
    6 Domains Performance (/100)
    Business behaviour
    49
    Human rights
    43
    Community Environment
    22
    Corporate governance
    52
    Human resources
    32
    Security Scorecard
    68
    Threat indicators
    F
    43
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    B
    81
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    F
    43
    Application Security
    Detecting common website application vulnerbilities
    A
    90
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    D
    65
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    B
    80
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked
    Industry Comparison
    brenntag.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    1
    Workforce Health Safety Issues
    0
    Product Service Issues
    4
    Human Rights Issues
    0
    Production Supply Chain Issues
    0
    Environmental Non Compliance Flags
    5
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    5
    Fraud Issues
    0
    Labor Health Safety Flags
    0
    Regulatory Issues
    2
    Workforce Disputes
    0
    Sanctions
    3
    esg energy transition
    50
    Discrimination Workforce Rights Issues
    0
    esg controversies critical severity
    No

    Offshore Labor market report transcript

    Global Market Outlook on Offshore Labor Market

    • The global offshore labor market is valued at $66.6 billion in 2020. It is expected to grow at a CAGR of 4.6 percent to reach $76.2 billion by the end of 2023
    • The demand for offshore labor is driven primarily by E&P activities, majorly in APAC, followed by ME, and Europe
    • Discovery of deep-water assets and offshore wind projects are expected to drive the demand in offshore labor job roles

    Market Drivers and Constraints

    Drivers

    • An offshore well continues to produce comparatively same volume of crude for 10–15 years, whereas onshore wells reach approx. 50–60 percent of production in the first year. This would ensure long demand for offshore labor compared to onshore
    • Nearly, 70 percent of the world's oil & gas production comes from mature fields. This high number of maturing fields would demand production and related activities on offshore, to tap the maximum reserves, in order to meet the increased demand globally
    • New deep water discoveries are expected to drive the demand for the offshore labor market

    Constraints

    • Prevailing low oil spend, due to slow recovery of crude oil prices, is affecting new investment in offshore
    • Stringent regulatory policies, health and safety measures to be followed on offshore platform would limit the number of labor on platforms
    • Since labor has to stay in rigs for a longer duration, companies prefer to keep the crew to minimum, in order to bring down the expenses on accommodation, food, etc.
    • Work–life balance for the labor would be compromised, as the working environment is challenging for the labor crew
    • Recent developments in drilling, such as increased drilling speed (~100 times), would bring down the drilling time by 50 percent. This would bring down the labor count and requirement
    • Automation and efficient drilling rigs have reduced the actual need for field hands on offshore platforms

    Sourcing Models

    • Currently, it is observed that different models are adopted for each spend category by oil companies; however, in the future, large organizations would opt for hybrid or blended model, due to increased focus on developing a holistic approach for offshore labor role, which could be a temporary or permanent one
    • The hybrid or blended model will provide a single point-of contact for all categories of labor across upstream, downstream, and midstream

    Master Vendor Model

    • Takes the overall responsibility for sourcing temporary and contract staffing services
    • All orders go to the master supplier, to be either filled by the master supplier or distributed to a tier-II supplier

    Direct Sourcing Model

    • Supplier selection from a pre-vetted list of preferred suppliers