Repsol Sinopec to cut North Sea contractor roles

Oil firm Repsol Sinopec Resources UK (RSRUK) confirmed today that it would reduce the number of contractors employed on its North Sea platforms.

It is understood the decision will affect about 40 contractors from Petrofac and Worley.

Aberdeen-headquartered RSRUK said it needed to “adjust numbers to reflect current business needs”.

For example, the firm is reducing the headcount on its Fulmar platform, which stopped producing last year.

The installation will remain manned as it becomes a dedicated oil export station serving several nearby fields, including Auk, Clyde, Flyndre, Gannet and Orion.

RSRUK doesn’t expect to have to lay off any of its full-time employees.

The company’s spokesman said: “We’ve completely transformed the business in the last few years but we still need to keep a close eye on costs to ensure that the business remains sustainable and resilient for the long-term.

He added: “There will be an impact on our contracting personnel across the asset portfolio but we won’t be able to quantify that until our major contractors have completed their own consultations.

“At the same time we are busy offshore with several current and upcoming projects and headcount will rise and fall in line with this project activity as we resource these on a campaign basis.”

RSRUK recorded pre-tax profits of £367 million in 2017, a vast improvement on a deficit of £1.1 billion in 2016. Losses came to £628m in 2015.

It is jointly owned by Repsol (51%) and Chinese firm Sinopec Group (49%) following the Spanish energy giant’s acquisition of the global assets of Talisman Energy in 2015.

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