GSE Systems, Inc. (NYSE MKT: GVP) has published a new white paper titled “The Case for Simulation-Based Training in the Oil and Gas Industry, Upstream and Downstream”. The document examines the need for efficient and effective workforce development in the oil and gas industry worldwide to combat the acute shortage of skilled workers both upstream and downstream.
“Statistics show that U.S. universities are producing only about 20 percent of the engineering graduates they did 20 years ago,” said Jim Eberle, Chief Executive Officer of GSE Systems. “Thus, the petroleum industry needs to train its recruits better and faster on systems that are more complex than ever before. They also need to make sure that they retain those recruits over the long term. New innovations in simulation-based training will allow industry trainers to accomplish these goals in less time with lower costs.”
The white paper examines the causes and characteristics of the skills gap in the oil and gas industry, including size and scope. It also provides an overview of the market for simulation-based training, including learning approaches, assessments of effectiveness, and operating and financial benefits to companies.
Readers will learn why simulation-based training, prefaced with traditional classroom training methods on process fundamentals, is the most efficient and cost effective way to educate new employees and prepare them for their work in a refinery or on an exploration and production (E&P) platform.The white paper is free as a direct download at www.gses.com/resources/white-papers. About GSE Systems, Inc. GSE Systems, Inc. is a world leader in real-time high-fidelity simulation, providing a wide range of simulation, training and engineering solutions to the energy and process industries. Its comprehensive and modular solutions help customers achieve performance excellence in design, training and operations. GSE’s products and services are tailored to meet specific client requirements such as scope, budget and timeline. The Company has over four decades of experience, more than 1,100 installations, and hundreds of customers in over 50 countries spanning the globe. GSE Systems is headquartered in Sykesville (Baltimore), Maryland, with offices in St. Marys, Georgia; Madison, New Jersey; Cary, North Carolina; Chennai, India; Nyköping, Sweden; Stockton-on-Tees, UK; Glasgow, UK; and Beijing, China. Information about GSE Systems is available at www.gses.com. FORWARD LOOKING STATEMENTS We make statements in this press release that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements reflect our current expectations concerning future events and results. We use words such as “expect,” “intend,” “believe,” “may,” “will,” “should,” “could,” “anticipates,” and similar expressions to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of our future performance and are subject to risks, uncertainties, and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties, and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. We do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.