Spirit Energy is to look at staff redundancies and cost cutting measures in an attempt to stem the tide of “extraordinary industry challenges” currently facing the oil and gas sector.
The exploration and production firm, which has an office in Aberdeen, said it will put a worker pay freeze in place and will ask contractors to look at cutting costs by 15%.
The company added that a collective consultation on staff reductions is also underway – but was unable to confirm the number of possible redundancies.
Spirit Energy, which launched in 2017, has around 350 employees in Aberdeen and around 800 UK-wide.
Additional proposals are being considered to close the firm’s Oslo office, one of two bases operated by Spirit in Norway.
It blamed current low oil and gas prices for the decision.
The firm holds a clutch of operated interests in the Central and Southern North Sea, including the Chestnut, Seven Seas, Trees and York fields and the Morecambe Hub in the East Irish Sea.
Spirit also has non-operated interests in the Alba and Brae fields, located around 130 miles north-east and 170 miles east of Aberdeen, and the Cygnus gas field in the southern North Sea.
A Spirit Energy spokesman said: “The industry faces extraordinary challenges, in particular low gas and oil prices, and as part of our work to continue supplying gas and oil to the countries where we operate we have looked at what we can control, including our cost base.
“Part of that review is on making sure we are set up in the right way.
“As a result, we are consulting with our employees and their representatives about proposed changes to the way our business is structured and potential reductions in some of our teams.
“We are also considering the option of furlough and whether it might be a possibility in some cases.
“Throughout this consultation process, our focus will be on our people and maintaining safe operations.
“We are also reviewing our operating expenditure and our capital expenditure, deferring commitments and investment decisions where we can. In making those decisions, we will ensure that the safety of our teams and the environment is never compromised.”