HUMAN CAPITAL DEVELOPMENT AND EXPLORATION AMONG OIL SERVICING FIRMS IN RIVERS STATE

Abstract

This work examined the relationship between human capital development and exploration among oil servicing firms in Rivers State. Objectives of the study were to examine how human capital development relates with exploration in terms of risk taking and flexibility. The study adopted the survey research design. The target population for this study comprised of 40 managers from 10 oil servicing firms in Rivers State, which was purposefully adopted as the sample size. Data were collected through primary (questionnaire). A structured questionnaire designed in four point likert rating scale format was adopted for the collection of data. Spearman Ranking (r) was used for the test of hypotheses via SPSS Version 25.0. The findings revealed that there is a significant relationship between human capital development and exploration among oil servicing firms in Rivers State. The study concluded that human capital development enhances exploration of firms. The study recommended that management of oil servicing firms in Rivers State should invest in training programs that focus on technical skills (such as drilling technologies, safety protocols, and environmental management), so as to empower their workforce to make informed decisions when faced with risks; Management of oil servicing firms in Rivers State should create a workforce that is adaptable to changing operational demands through training programmes as such would enable its workforce to transition more smoothly to better exploratory operations with ease.