Maersk confirmed it will shut its Houston office and shift its Gulf responsibilities to its team in Copenhagen.
Chief operating officer Gretchen Watkins said: “We recognise that this is an unsettling time for our people, to whom we offer full support throughout this process. During this difficult time, the safety and welfare of our teams and our focus on safe and incident-free operations remain our top priority.”
The operator also confirmed plans to significantly downsize its team in Angola from 60 to 18 positions.
The double blow is all part of a strategy to reduce the firm’s opex and improve returns on its unsanctioned Chissonga project, according to the oil major.
Watkins added: ”Chissonga, like many deepwater projects in our industry, remains economically challenged in the current market environment. Maersk Oil remains committed to the Chissonga project and we have evaluated multiple options to commercialise these resources in the best interests of our partners and the Angolan authorities. In addition to work to reduce overall project costs we are also looking at options for a possible joint development.
“A further restructuring of the Chissonga project team is a necessary step on the path to securing a future development project for Maersk Oil in Angola. This difficult decision does not diminish our keenness to pursue the Chissonga project sanction in due course, provided we can achieve an attractive return on our investment.”
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