Date: January 17, 2021

Trends in Oil and Gas Construction

The oil and gas construction industry continue to progress as leaders seek innovative ways to improve distribution, safety and even expand certain sectors. Here are some of the most recent trends impacting this industry.

Better Distribution
Improvement in oil and gas distribution has also helped the industry. The Pipeline and Hazardous Materials Safety Administration (PHMSA) has introduced several initiatives in an effort to improve underground pipelines and the transportation of energy products. The regulations requiring utility companies to repair, replace, and update pipe systems that deliver gas to homes are impacting the gas distribution market space and requiring more construction workforce. As a result, there is a shortage of qualified gas distribution labourers.

Improved Safety
Recently, there has been more focus on safety. A growing number of those specializing in oil and gas financial matters are also investing in safety. Insurers are working to build partnerships with the companies that they cover in an effort to reduce accidents so that both parties achieve a better financial outcome. Innovative training programs, like computerized simulators for drilling wells, are being used to prepare people and mitigate the risks.

The federal agencies, have also been focusing on employee safety in response to a high number of incidents in Texas. In October, an oil barge being pulled by a tugboat caught fire and exploded in the Gulf of Mexico off Texas. Safety agencies are encouraging oil and gas construction leaders to focus on hazardous materials training in an effort to reduce the number of injuries. PHMSA offers free one-day workshops and two-day seminars to anyone who transports hazardous materials.