The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Mining / Quarrying Mining And Quarrying Mining Support Service Activities 09.10 - Support activities for petroleum and natural gas extraction
250 jobs Number of planned job losses
Announcement Date
26 June 2015
Employment effect (start)
21 October 2015
Foreseen end date
Description
Drilling company North Atlantic Drilling is to cut at least 250 employees, after it failed to secure a new contract for the rig West Venture. The company was competing for a contract to operate the rig for Statoil at the Johan Sverdrup oil field in the North Sea, but lost to Odfjell Drilling. When the story was first reported in June 2015, the exact number of dismissals was uncertain, but union leader Arild Jenssen in SAFE in North Atlantic Drilling stated that around 200 employees would be made redundant.
At the end of September, Jenssen stated that the number of dismissals will be higher than 250. He was reluctant to give a precise number, but said that it ended up higher than they had thought and hoped for. According to Jenssen, the list of names selected for dismissal is ready, and written confirmation to affected employees was to be given at the end of the month. After the cuts, about 800 employees will remain in the company. Most of the employees affected are located on the west coast of Norway.
North Atlantic Drilling cut about 200 jobs in the fall of 2014, as the rig West Navigator went off contract. Several other drilling companies are currently downsizing as a result of the fall in crude prices and the reduced activity in the North Sea.
Sources
26 June 2015: Dagens Næringsliv
26 June 2015: Offshore.no
19 September 2015: Stavanger Aftenblad
Citation
Eurofound (2015), North Atlantic Drilling, Internal restructuring in Norway, factsheet number 84239, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/84239.
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