In many industries there is a growing scope for collaboration rather than competition to address talent challenges. For example, several human capital challenges in the Oil and Gas sector are directly linked to the cyclical nature of the industry and others, primarily those that affect long-term horizons, are associated with a shortage of qualified employees, a lack of experienced mid-tenure employees, and the need to foster technological innovation. Over this long-term context, the Oil and Gas industry broadly faces obstacles in recruiting workready technical engineers and in developing, attracting and retaining female talent. In order to continue to serve the world’s growing energy needs while improving opportunities for youth in emerging markets and for women, leaders of the Oil and Gas community aim to address these challenges collectively. Given the long-term talent needs and skills gaps in the industry, the Forum’s industry project in this space aims to develop demand-driven criteria for educational institutions working with leading companies in the sector. The first objective is to produce an industry-endorsed standard curriculum that aims at bridging the gap in training of petroleum engineers across geographies. The curriculum focuses on engineering fundamental knowledge such as mathematics and geology but also non-engineering skills such as project management, finance and communication. In order to prioritize certain regions or countries, the Future of Jobs project’s insights will be used to identify critical skills gaps based on industry needs. The World Economic Forum will then play a facilitator role bringing together the industry and relevant universities and ministries in order to move forward the common dialogue. The Forum’s analysis illustrates that the Oil and Gas industry, despite on-going efforts in the field of diversity and inclusion, continues to miss out on the diversity dividend, with participation of women in the workforce still lagging behind other major industries. In order to increase efforts to tackle these persistent gender gaps along the Oil and Gas talent pipeline, major players from the industry are also coming together to collectively address contextual and industry-specific factors contributing to these gaps. Alongside a straightforward desire from many in the sector to create a more diverse workforce, interviews with Oil and Gas executives suggest they also believe that taking advantage of this huge potential talent pool is a critical business objective. Skills gaps and the looming retirement of experienced engineers and technical talent currently present in the Oil and Gas workforce mean that companies need increasingly to look elsewhere to find the talent and knowledge they require. The group looked specifically at data on gender gaps at junior, middle, senior, board and CEO levels. A Call to Action is currently being developed that aims to state the group’s vision and demonstrate the practices major players’ will undertake to advance gender parity. The declaration includes a set of guiding principles that will underpin the industry’s efforts on gender parity, such as: ensuring visible leadership on gender parity and company commitment at all levels; promoting gender sensitive recruitment, retention and promotion policies and setting challenging but achievable goals for gender diversity. This Call to Action will also serve as a platform to help Oil and Gas business leaders, their companies, owners and shareholders around the world address the factors contributing to the gender gap. Members of the Oil and Gas community also encourage companies to share best practices, creating an opportunity to learn from and build upon successful interventions for the benefit of the entire industry. This pilot project points to collaborative mechanisms that can be applied across other industries, in partnership with governments and educational institutions.