A skills shortage in the oil industry could be to blame for a rise in the price of oil, it has been claimed.

Christophe de Margerie, the chief executive of Total, told the Times an acute skills shortage and growing costs are potentially jeopardising oil developments, meaning that the price of the fuel could go up further.

It could mean that training in the oil sector is required.

Mr de Margerie said: "We have two big challenges: research and development and training and skills."

He added that people are not as efficient as they used to be and that the skills shortage has affected companies’ ability to deliver on big projects, the Times reported.

In other Total news, the company recently announced the production of first gas from the K5F field in the K5a block of the Dutch Continental Shelf.

The field will be the first project to use all-electrically activated subsea equipment in the world.

Oil and Gas Directory: Training and Development