ConocoPhillips has sparked fears of job cuts after announcing the merger of its UK and Norwegian business activities into a single North Sea operation. The merger's aim is to maximise operating efficiencies in ConocoPhillips upstream business units in the UK and Norway. It is believed that this will result in a reduction in the 616 strong workforce employed in Aberdeen - headquarters for ConocoPhillips UK exploration and production activities.
The reorganisation involves four business units in Aberdeen and Stavanger - Greater Ekofisk, Greater Britannia, southern North Sea, and Partner Operations and Business Development. The regional HQ for the Europe and Africa division will be based in Norway.
ConocoPhillips came about as a result of a merger between Conoco and Phillips during 2002. The merger made the new company the sixth biggest integrated oil company in the world.
ConocoPhillips has sparked fears of job cuts after announcing the merger of its UK and Norwegian business activities into a single North Sea operation. The merger's aim is to maximise operating efficiencies in ConocoPhillips upstream business units in the UK and Norway. It is believed that this will result in a reduction in the 616 strong workforce employed in Aberdeen - headquarters for ConocoPhillips UK exploration and production activities.