BP announces North Sea job cuts

BP announces North Sea job cuts

Oil company BP is to cut 200 jobs and 100 contractor roles following a review of its North Sea operations, BBC reported.

It is believed that most of the cuts will be onshore. The company expects a relatively small number of compulsory redundancies.

Staff at BP's North Sea headquarters in Aberdeen have been briefed about the plans.

BP currently employs 3,500 people in the North Sea, with a further 11,000 elsewhere in the UK.

The oil giant announced a major restructuring in December in response to the fall in the world oil price, which has halved in recent months.

BP said it needed to respond to "toughening market conditions". The company has been downsizing since the Deepwater Horizon oil spill in the Gulf of Mexico in 2010.

The recent oil price reduction "has simply made this even more imperative", it said.

Trevor Garlick, regional president for BP North Sea, said: "We are committed to the North Sea and see a long-term future for our business here.

"However, given the well-documented challenges of operating in this maturing region and in toughening market conditions, we are taking specific steps to ensure our business remains competitive and robust, and we are aligning with the wider industry.

"Whilst our primary focus will be on improving efficiencies and on simplifying the way we work, an inevitable outcome of this will be an impact on headcount and we expect a reduction of around 200 staff and 100 contractor roles.

"We have spoken to staff and will work with those affected over the coming months."

Last month, BP announced that plans to cut hundreds of jobs within its back-office departments - many of them based in the UK and US - would be accelerated. The restructuring is expected to cost £640m in the coming years.

The price of a barrel of oil dropped to a low of about $46 earlier this week from a peak of about $115 last summer. It currently stands at about $48.

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