Job fears follow oil price slide

27/01/2009

The news that many major oil firms are reviewing their operations in the North Sea has sparked fears about job losses in Aberdeen.

Up to 80 staff at Schlumberger are expected to be made redundant, while Halliburton has confirmed its intention to halt production in some mature fields with falling output.

It confirmed that many platforms in the North Sea have already been taken offline as the price of oil and other derivatives such as heating oil, DERV and bunker fuel have fallen.

Speaking to the Press and Journal, Schlumberger spokesperson Gen Herga commented: "Reducing staff numbers and reviewing future staffing requirements has unfortunately become a necessity in today's challenging economic climate."

Meanwhile, Halliburton declined to comment on the impact that reduced operations would have on jobs.

Prices for crude and derivatives such as heating oil have fallen dramatically in the last six months, mapping a global slump in demand brought about by the economic crisis.