Indian Hydrocarbon Business: Upcoming HR Challenges
Posted: 1 Mar 2014
Date Written: February 27, 2014
Hydrocarbon business in India is having three major business components, viz. the upstream, the midstream and the downstream. Generally downstream business includes midstream operations. The hydrocarbon business entity may be either independent company either in upstream or downstream, or an integrated company, they all face some challenges in every project that are undertaken by them. From the initial phase of bidding process of oil and gas blocks to marketing of petroleum products, the oil and gas industries face certain specific challenges, in areas relating to financial, technical, safety, environmental, political, logistics, geographic, manpower etc. Out of these challenges HR challenge is in the forefront of oil and gas industry. The companies become successful if they overcome this HR challenge, as human capital is the ultimate resource in any organization.
The Indian oil and gas sector has undergone drastic changes ever since the economy was liberalized. The NELP Rounds have also helped in the development of this sector. Due to this reason, there is a high demand for worker and engineers and researchers for the oil and gas companies in India. HR in oil and gas industries is very much important these days as there aren't many people coming into this sector which is creating a direct impact on the production and development. Although, this sector has always been characterized with many challenges, yet the nature of this challenge has undergone a change. The objective of the proposed paper is to explore various HR challenges in the diversified oil and gas industry from an Indian perspective.
The research methodology would mainly include literature review and the presentations at various seminars and conferences across the oil and gas sector.
Keywords: Hydrocarbon business, Upstream, Midstream, Downstream, HR, Challenges, India
JEL Classification: Q40, Q49
Suggested Citation: Suggested Citation