COPENHAGEN, Denmark – Maersk Oil plans to cut its global workforce by 10-12%, as part of a drive to reduce the company’s operating costs by 20% by the end of 2016.
This will increase the total number of job cuts implemented this year to around 1,250.
Maersk’s divisions in Qatar and Norway will implement reductions in line with the 10-12% range, with slightly lower levels in the Danish operations, in Kazakhstan, and at the company’s Copenhagen headquarters.
In the UK, Maersk has already outlined plans to cut around 220 positions. This is linked to the retirement of the Janice field facilities in the UK central North Sea and changes to the offshore rotation.
Last month the company announced that 60 roles in Angola and the US would go due to delays in the Chissonga project offshore Angola.
Maersk Oil CEO Jakob Thomasen said: “We are operating in a materially changed oil price environment and have taken necessary decisions to reduce activity levels through 2015, and ensure we focus where we can see adequate returns from our most robust projects.
“This approach has seen us sanction mega-projects like Johan Sverdrup and Culzean during the year. We remain focused on longer-term growth opportunities, which play to our technical strengths, and the continued safety of all our people and assets.
“We expect the pressure to continue into 2016 and we must remain cost-focused to grow in this market.”
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