A survey by a recruitment firm has found that the oil and gas industry is on the verge of experiencing a labor shortage, as more than half of the sector's workers look to migrate to the renewable energy industry.

The survey showed that 43% of the workers intend to leave the energy industry in total within the next five years.

When asked in which sectors they would look for job opportunities, 56% of those working in the oil and gas sector said they now intend to work in the renewable energy industry, compared to 38.8% last year, who already had the same prospect.

Energy companies ranging from Royal Dutch Shell and British Petroleoum to small exploration companies have cut tens of thousands of jobs in the wake of the coronavirus pandemic as budgets have been stretched thin.

But now, as energy demand and prices recover strongly around the world, many companies are finding it difficult to recruit again. There are beginning to be excess vacancies and labor shortages.

The study revealed that 10% of employers had to pay retirees to take back unfilled job openings due to lack of skills. And, 82% of recruiters said that for every ten of their jobs one has been vacant, for more than three months.

Oil and gas companies have faced increasing pressure from investors, activists and governments to combat climate change, making them less attractive to young professionals.

While BP, Shell and many of their peers reduce spending on oil and gas, they are also looking to rapidly grow their low-carbon and renewable energy businesses, often by retraining staff.

"With more workers gravitating to the renewable energy sector, the industry is likely to continue to see an exit from traditional sectors," the report says.

"The higher salaries offered by the renewable energy and mining sectors are making roles in these areas more appealing, adding to the pressure faced by recruiters in the oil and gas sector," it reads.