Petrofac says 160 jobs at risk under shake-up

Oilfield services contractor Petrofac has revealed that up to 160 jobs are at risk of being cut in a restructuring move.

Petrofac chief executive Ayman Asfari

The company, which has UK bases in Aberdeen and London, said the proposed job losses would be spread across its operating centres.

A Petrofac spokeswoman said the business, led by chief executive Ayman Asfari, was looking to streamline its services as the oil price slump continues to affect the industry worldwide.

Crude oil is trading at about $33 dollars a barrel, down from a high of $115 dollars per barrel in June 2014.

The spokeswoman said: “We’re constantly looking for ways to make our business as cost efficient and delivery-focused as possible.

“Integration of our UK services will deliver a streamlined and effective business which is designed to ensure we remain competitive and sustainable against a challenging industry backdrop.”

She added: “We’re making every effort to minimise the impact on our 1,900 UK employees. Under our current proposals the positions potentially at risk represent less than 10 per cent of our entire UK population and will be spread across our operating centres.”