Talisman announce cuts, but not at Flotta

Talisman Sinopec have announced plans to cut 300 jobs, however the company added that the proposed changes do not affect staff at the Flotta Oil Terminal.

A statement from the company this afternoon said that the plans represent a reduction of 300 positions from a workforce of approximately 3000, a split of 100 employee and 200 contractor positions.

The company added however that it will “continue to review these numbers in the current climate.”

Paul Warwick, managing director of  Talisman Sinopec Energy UK limited said: “Our industry is operating in a mature environment, against a backdrop of a declining oil price and ever-increasing operating costs alongside falling production levels, reduction in exploration and asset integrity and maintenance issues. We are not immune to those challenges and are taking appropriate actions to tackle them.

“As part of the ongoing transformation of our business, Talisman Sinopec Energy UK is proposing material changes in our onshore teams which will result in the reduction of a number of positions within the organisation. We have also introduced immediate reductions in contractor rates. We have spoken with our workforce and are supporting them through the process.”

He added: “We are committed to working with all our stakeholders, including our shareholders, workforce, business partners and regulatory authorities, to work through this challenging environment.

“The next chapter for TSEUK demands creativity and innovation as we develop excellence in late-life asset management and decommissioning. We are shaping the future direction of our business – and industry – to protect our long-term sustainability within the sector.”