SUBSEA 7 has confirmed that about 20 contractors are no longer working for the engineering and construction company in Aberdeen.
A spokesman said: “As a direct result of the current low oil price, this has led to a slowdown in the market for all services related to oil and gas production.
“As it would do at any time, Subsea 7 reviews the ongoing need for contractors as and when a project comes to an end. As a result of the current market conditions, approximately 20 contractors have been released from our Aberdeen office.”
The spokesman said Subsea 7 remained confident in the medium to long-term fundamentals for oil and gas, particular engineering and construction services.