Image courtesy of Schlumberger.

Schlumberger will undertake another round of job cuts in Norway as low oil prices continue to dampen demand for services.

According to the Offshore Post, the company will cut an unspecified number of jobs from its Norwegian operations.

In an interview with a Norwegian newspaper seen by Offshore Post, Schlumberger said that it understands the cuts are “difficult for those who are affected, especially in the current recession, but as a service company, we must constantly adapt our resources to demand.”

Schlumberger confirmed in March that it eliminated another 2,000 jobs in the first quarter as pretax operating income fell 55 percent year-over-year.

The company earned $901 million in pretax operating income in the first quarter, down 55 percent from the year ago quarter, on revenues of $6.52 billion.

The Houston-based company has reduced its headcount by more than 25 percent, or about 36,000 positions, since oil prices began to fall in the summer of 2014, according to Bloomberg.

Schlumberger announced Wednesday that it has acquired Saltel Industries, a France-based engineering, manufacturing and service company that offers expandable patches and steel packers technology for the oil and gas industry.

“Saltel Industries has an impressive track record in providing expandable steel patch technology to the remedial services market and has developed an innovative portfolio of openhole steel packer technology,” Schlumberger Completions president Olivier Le Peuch said.

Saltel Industries is headquartered in Bruz near Rennes, France, and has offices in five locations globally with 70 employees.

Saltel’s employees will continue to operate under the leadership of Jean-Louis Saltel and his management team.


Leave a Reply