Marathon Oil is expected to reduce its headcount by around 10% as it looks to lower costs.
The company said it between 350-400 jobs would be affected by the decision.
It is expected staff affected will be based in the US.
A spokeswoman for Marathon said: “These reductions will be focused largely on U.S. payroll employees, and will be weighted to above-the-field and support services personnel.
“Our goal is to conclude this effort as quickly as possible to limit the period where our employees are uncertain of their standing and to minimize disruption.
“These types of actions are difficult and never taken lightly, but are necessary in the current environment.”
The move comes after companies including BP, Schlumberger and Baker Hughes announced job reductions would be made last month.
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