The analysis of European Oil and Gas Extraction Wages and Salaries in 2023 shows notable disparities across countries, with the UK leading at 1.62 billion Euros. Year-on-year variations reveal sharp increases in Hungary (30.6%) and Spain (18.93%), while Italy saw a significant decline (-63.79%). The UK experienced a slight decline (-0.5%), whereas steady growth was observed in the Netherlands (0.76%). Contrastingly, Denmark and Estonia faced reductions in wages and salaries of -5.18% and -2.45% respectively.
Future trends to watch include a continued focus on sustainability and energy transition, which could reshape labor demands. Investment in renewable energy sources may influence wage dynamics, potentially shifting resources and affecting salary growth across the sector.
Top countries in Oil and Gas Extraction Wages and Salaries by Country
| # | 8 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 1,620 | 2023 | -1.6% | -0.5% | View data |
| 2 | 2 Netherlands | 357.6 | 2023 | +4.04% | +0.76% | View data |
| 3 | 3 Denmark | 227.5 | 2023 | +4.72% | -5.18% | View data |
| 4 | 4 Estonia | 47 | 2023 | +8.55% | -2.45% | View data |
| 5 | 5 Spain | 34.5 | 2023 | -2.27% | +18.93% | View data |
| 6 | 6 Lithuania | 2.2 | 2023 | -4.35% | -2.52% | View data |
| 7 | 7 Hungary | 1.9 | 2023 | 0% | +30.6% | View data |
| 8 | 8 Italy | 0.9 | 2023 | -98.04% | -63.79% | View data |
