It is easy to dismiss the capability challenges facing the upstream sector; for 20 years the industry has been watching the problem develop and very little has been done to effectively address it. Knowledge and expertise remains heavily vested in individuals within the workforce who can and do leave organisations and the industry in increasing numbers, taking that value with them. It is now plain to see the real world impact this is having. As the balance shifts in the industry, capability is becoming a key differentiator, writes Giles Lewis, Global Head of Research, Practicus. A scan of recent industry news reveals that firms are increasingly looking further afield for talent-establishing bases in new locations, away from operational hubs, just to secure expertise-and paying a premium for it.
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