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Maersk Oil to Cut 200 Jobs

offshore workers

Published Apr 16, 2015 4:24 PM by The Maritime Executive

Denmark's A.P. Moller-Maersk will cut 200 jobs in its Maersk Oil unit due to a drop in the oil price and to reduce operating costs by 20 percent over the next two years, it said on Thursday.

The cuts will fall in Maersk's headquarters, Qatar and UK business locations, and will affect both permanent Maersk Oil employees and core contractors.

UK already suffering

Royal Dutch Shell is planning further job cuts in its UK North Sea oil and gas business in 2015, the company said in March, just a week after a package of tax cuts from the Treasury aimed at encouraging growth in the industry.

"Shell UK plans to reduce the number of staff and agency contractors who support the company's UK North Sea operations by at least 250 in 2015," Shell said in an emailed statement.

The reduction is in addition to 250 job losses announced in August, Shell said, and follows North Sea job cuts by BP, Talisman Sinopec, Chevron, and ConocoPhillips.