REPSOL Resources is looking to cut around 95 onshore workers based at its Aberdeen office following Sinopec’s exit from the North Sea joint-venture.
It comes after Sinopec exited the UK business in November following a lengthy arbitration with Spain’s Repsol, which ultimately resulted in a £1.6bn ($2.1bn) deal to buy out Sinopec’s stake.
Subscribe to our daily newsletter
Why? Free to subscribe, no paywall, daily business news digest.
A source close to the matter told Energy Voice nearly 100 people are expected to be cut from the organisation.
When asked about the rumoured job cuts, a Repsol UK spokeswoman told Energy Voice: “We can confirm we are reviewing Repsol UK’s onshore organisational structure and operating model, following Repsol’s acquisition of Sinopec’s share in the UK business in November 2023.”
