US oil firm Apache has shed some light on an ongoing organisational “redesign” intended to reduce costs.
But the Houston-headquartered business did not elaborate on its plans to reduce its global headcount by 10-15%, as reported by Energy Voice in December.
Apache, which has more than 600 employees in Aberdeen and operates the Beryl and Forties fields in the UK North Sea, will have three departments – operations, development and exploration.
Clay Bretches was named executive vice president of operations, and David Pursell was named executive vice president of development.
The leader of exploration will be named following the completion of an ongoing search.
Chief executive John Christmann said: “Our new organization, built on central pillars of operations, development and exploration, will enable us to manage our assets more efficiently while enhancing our strategy of finding and developing new, low-cost resources.
“We will be able to more effectively deploy capital and human resources, respond to market conditions, and retain and advance top talent.”
Last week, during the firm’s full-year results webcast, Mr Christmann said Apache was “well down the road of right sizing” which would save the company £115m per year.
The impact on Apache’s north-east workforce is not yet clear, but it is feared Aberdeen could be hit hard.
Apache has been contacted for comment.
Recommended for you
