Offshore staff

ABERDEEN, UK --BP plans to restructure its UK North Sea business to cope with declining production and rapidly rising costs.

This will involve simplifying the organization with fewer layers of management. The company estimates around 350 job losses among its onshore staff and contractor workforce. Offshore personnel will be unaffected.

Most of the reduction in office-base support jobs will come from its current headquarters close to Aberdeen Airport. The changes should be in force in time for BP's relocation to a newly-built site nearby during the first half of 2008.

BP Exploration and chief exceutive Andy Inglis said these measures aim help ensure that "resources are focused on front-line delivery". In recent years it has invested £3-4 billion ($6-8 billion) annually in its UK North Sea business, and expects to produce around 350,000b/d of oil this year, down from 550,000b/d in 2004.

29/10/2007