The government of the Philippines is eyeing a potentially large gas discovery as UK company Forum Energy prepares to drill in the disputed waters of the South China Sea. But geologists remain skeptical about the potential and any unilateral drilling will likely draw Beijing’s ire.
Global oilfield service company Forum Energy Technologies yesterday said it has made 12 employees redundant following the closure of its workshop in Lybster, Caithness.
The Houston-based firm’s statement adds it to an ever-growing list of oil and gas companies that have been forced to lay off staff due to low crude prices and rising costs.
Last week oil giant Shell said it would make 250 of its North Sea workforce redundant, while Taqa revealed plans to reduce its headcount by 100.
BP earlier announced it would cut 200 full-time onshore positions and 100 contractor roles from its 4,000-strong North Sea workforce.
Forum yesterday said that the company’s operations at Lybster, which focused on the manufacture of oil well drilling equipment, will be shifted to one of its other facilities.
