600 North Sea jobs go at BP
BP are losing one in five of their North Sea workforce.
More than 600 North Sea jobs are being cut by BP - one in five of the workforce.
Mark Thomas, Regional President for BP North Sea said:
"We are committed to the North Sea and see a long term future for our business here. For example, in 2016, we are continuing to invest around $2 billion of capital into North Sea projects and a further $2 billion in running our North Sea operations. This will sustain many hundreds of jobs both in BP North Sea and our supply chain going forward"
"However, in toughening market conditions and given the well-documented challenges of operating in this maturing region, we need to take specific steps to ensure our business remains competitive and robust.
"An inevitable outcome of this will be an impact on headcount and we expect a reduction of around 600 staff and agency contractor roles by the end of 2017, with the majority of these taking place this year. We are speaking to our staff and agency contractor management and will work with those affected over the coming months."
It comes as the price of Brent Crude dipped below $31 a barrel this morning.
Yesterday Petrofac announced they were planning up to 160 redundancies in the UK.