PA Resources reduces North Sea, West Africa operations

Offshore staff

STOCKHOLM, SwedenPA Resources (PAR) says it will decrease its corporate organization in order to reduce its costs. The company’s cost reduction efforts will entail several organizational and management changes.

The company’s London office, which manages its North Sea assets and group exploration activities, will close at the end of 2015, and all staff working on these activities will leave the company.

PAR’s corporate headquarters in Stockholm will remain but with reduced manpower to manage completion of the sales process and handle the administration.

Kevin McGrory, general counsel, and Graham Goffey, senior vice president for exploration and managing director for the North Sea and West Africa, will stay on as consultants to support the sales process.

CEO Mark McAllister and Paul Elstone, managing director of PA Resources in Tunisia, will remain in their positions.


Share your news with Offshore at

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...