Nexen Energy, a CNOOC unit, said it plans to make organizational changes that will reduce its North American workforce by approximately 340 employees.
Nexen UK has also initiated a consultation process to adjust its staffing levels by approximately 60 employees, the company said in a statement.
“In response to the recent industry downturn that has affected all companies in the energy sector, a decision was made to conduct a thorough review of our organization to ensure our long-term viability and sustainability,” said Fang Zhi, Chief Executive Officer of Nexen .
The company, developing the Aurora LNG project in British Columbia, said its long-term perspective continues to be fundamental to how it makes organizational decisions. CNOOC Limited is focused on driving long-term stability for the company, Fang Zhi said.
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Image: Nexen Energy