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Ideal Employer Survey: Africa Values Safety the Most
Date: 2017-01-17
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Ideal Employer Survey: Africa Values Safety the Most

Ideal Employer Survey: Africa Values Safety the Most
Out of all the continents featured in Rigzone's Ideal Employer Survey, respondents from Africa valued safety the most.

Africa values an oil and gas company’s commitment to health and safety (H&S) more than any other continent, according to Rigzone’s Ideal Employer Survey.

The survey, which included a total of 8,466 participants, showed that respondents from Africa scored an energy firm’s commitment to H&S at 93 percent. In comparison, respondents from South America, Asia, Australia/Oceania, North America and Europe scored the characteristic at 92, 91, 90, 90 and 87 percent, respectively.

Jane Morley
Jane Morley, Regional Manager for Middle East & Africa, The Economist Intelligence Unit
Regional Manager for Middle East & Africa, The Economist Intelligence Unit

The figure rose from 93 percent to 94 percent among 26 to 34 and 60 to 69 year old workers from the continent, according to the Ideal Employer Survey, which also highlighted a clear difference regarding the importance of the trait in relation to gender. Females in the region placed a 96 percent importance on a company’s commitment to H&S, up three percentage points from males on the continent.

“Africa is perceived to be a riskier place than elsewhere in the world, so investors/workers are more conscious of safety in Africa than they are elsewhere,” Jane Morley, The Economist Intelligence Unit’s regional manager for the Middle East and Africa, told Rigzone.

“Potentially compounding this, workers might be less confident that national legislative oversight is in place, meaning that it might be easier for unscrupulous employers to cut corners, and they're worried about healthcare options should something go wrong,” Morley added.

It is also possible that a higher proportion of oil and gas operations in Africa take place in more challenging environments, such as in the face of attacks by insurgents, Morley said.

In 2016 alone, a number of attacks on oil and gas facilities have taken place in North and West Africa, with Libya, Algeria and Nigeria in particular experiencing several incidents. Notable attacks occurring in these countries over the last 12 months include:

Libya:

Algeria:

Nigeria:

Further fueling safety concerns, a helicopter carrying six people to a Chevron Corp. oil platform offshore Angola crashed in September, killing all passengers on-board.

The aircraft left the Malongo port in Angola’s Cabinda province Sept. 26, 2016 to make the short journey, but never arrived at its destination. An investigation into the incident is continuing.

Security Issues Main Problem for West African Oil, Gas Companies

The biggest issues for oil and gas firms in West Africa are related to security, Ildar Davletshin, an oil and gas analyst at Rencap, said.

“My experience in analyzing results of West African companies suggests that security issues are indeed the main problem for those companies,” Davletshin told Rigzone.

These security issues have also a fiscal effect on companies, Davletshin said.

“Apart from a simple point that you need to take extra measures to safeguard your personnel and infrastructure, there is an additional material cost issue related to downtime when wells are shut and operators are not able to sell crude.

“This puts pressure on their balance sheets as free cash flows remain negative, increase interest expenses and ultimately reduce their capacity to invest in the future growth,” Davletshin added.

Raising external money for West African projects, especially in Nigeria, is also much harder because of these security issues, Davletshin said. Banks are unable to predict cash flows with any reasonable certainty, simply because the production profile is so volatile, the analyst added.

 


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