Internal restructuring
Location of affected unit(s)
Mining / Quarrying
Mining And Quarrying
Mining Support Service Activities
09.10 - Support activities for petroleum and natural gas extraction

229 jobs
Number of planned job losses
Job loss
Announcement Date
24 June 2015
Employment effect (start)
1 August 2015
Foreseen end date
31 August 2015


COSL Drilling Europe will dismiss 209 Norwegian employees offshore and 20 employees onshore, as Statoil terminates its contract for drilling rig COSL Pioneer. The contract was set to expire in August 2016, but is terminated ahead of time. CSOL Pioneer, which has been docked since October 2014, was planned to start work for Statoil from 1. August this year. in December 2014, 700 of COSLs Norwegian employees agreed to a 10 percent wage cut , in order to avoid dismissals. The company has now discussed the situation with union representatives, and has come to the conclusion that dismissals can no longer be avoided. Severance packages will not be offered.  


  • 24 June 2015: COSL Drilling Europe
  • 24 June 2015: Stavanger Aftenblad
  • 24 June 2015: Offshore.no


Eurofound (2015), COSL Drilling Europe, Internal restructuring in Norway, factsheet number 84040, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/84040.