Job cuts have been announced by subsea maintenance specialists DeepOcean at its Teesside operations, following a global reshuffle.
At least 45 jobs at its centres in Darlington and the Teesport Commerce Park are expected to be cut, as well as 29 offshore roles, amounting to approximately 30 per cent of its staff. The final details of the Teesside job losses are expected to be announced at the end of February.
DeepOcean provide maintenance work for oil and gas, and renewable energy firms, as well as trench digging and cable installation. The Dutch company has reported a lower level of work available in the renewable energy sector, and falling world crude oil prices have been felt across the industry. The price of oil per barrel has halved, and after reaching more than $100 in mid-2014, it has fallen below $48 in January 2015.
Employees at BP’s North Sea operations were also recently warned of potential job losses. As part of global redundancies, hundreds of on-shore jobs are expected to be cut, as well as 100 contractor roles, with those who perform office-based roles the most at risk. The company employs 80 people at its Seal Sands base in Teesside.
BP blamed a decline in production, rising costs and ageing assets for the job cuts, denying that the decision was in response to falling global oil prices. The Regional President for BP North Sea, Trevor Garlick, said that the falling price of oil has simply made it more important to be able to effectively respond to challenges in the market. He assured that there is a long term future for BP in the North Sea region.
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