Danish energy company Dong Energy is reportedly reducing its oil and gas business’ headcount.
According to Reuters , the energy company is planning to cut around 280 jobs from the oil unit, that employs 700 workers, until the end of March.
The company’s oil & gas activities are focused in the waters around Denmark, Norway, UK (West of Shetland), and the Faroe Islands.
The company revealed in September last year it intended to pursue an IPO within 18 months.
The news agency quoted the company’s spokesperson as saying: “The market conditions are pushing our oil business and therefore we need to adapt the business.
“That includes, among other things, that we need to reduce our costs and unfortunately also reduce the number of employees.”
Offshore Energy Today reached out to Dong Energy seeking confirmation of these reports, but we are yet to receive the company’s response.
Dong Energy recently informed it would be shutting down its Oselvar field offshore Norway, 14 years earlier than planned due to reservoir issues. According to the company, the Oselvar field has not lived up to its initial expectations.
Offshore Energy Today Staff