Norway’s state-owned oil giant, Statoil, is reportedly cutting stuff in a new round of redundancies.

According to Aftenbladet, Statoil will cut up to 20 percent within its technical sector that employs around 12,000 engineers.

This might mean that up to 2,400 engineers will find themselves without employment, notably those that are drilling and maintaining wells, and administrative staff.

This move is a part of cost cutting measures caused by the drop in global oil prices.

Offshore Energy Today reached out to Statoil seeking confirmation of these reports; however, we are yet to receive a response.

Source: www.offshoreenergytoday.com

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