BP plans to reduce the number of rigs that the company has operating at Prudhoe Bay on Alaska’s North Slope, according to the Associated Press. The rig reduction, which will take place over the next several months, will cut production and affect up to 300 jobs.
Due to low oil prices, BP will reduce the number of rigs at Prudhoe Bay from five to two. BP will shut down two rotary drilling rigs and a coil drilling rig. Rig operators include contractors Nordic-Calista Drilling, Parker Drilling, and Doyon Drilling.
Following this reduction in operations, BP will continue operating one coil and one rotary drilling rig at Prudhoe Bay.