The number of persons employed in oil and gas extraction in Spain showed significant fluctuations over the past decade. Employment rose sharply between 2015 and 2017, peaking in 2017 with a year-on-year growth of 9.58%. However, there was a major decline in 2018, followed by partial recovery. Employment stabilized from 2020 to 2023, with a slight drop of 0.22% year-on-year over the last two years, standing at 460 employees in 2023. The 5-year CAGR for the period ending in 2023 was 13.99%.
Going forward, the number of employees is forecasted to decline marginally, with a forecasted 5-year CAGR of -0.09%, and an overall 5-year growth rate of -0.44%. By 2028, employment is projected to decrease slightly, reaching 457 employees.
Future trends to watch for include technological advancements in extraction processes, shifts in global energy demands, and environmental regulations that could impact industry employment figures. Monitoring these factors will be crucial for assessing potential workforce changes within this sector.
