Statoil Scraps New Office Plan After Job Cuts

File Image: Oil giant Statoil is still a dominant force in the North Sea, despite recent staff cutbacks. (CREDIT Statoil)

Posted by Joseph Keefe

Norway's Statoil has ditched plans to build a
futuristic-looking head office in Stavanger after cutting the
size of its workforce by almost 3,000 in recent years, a
spokesman for the oil and gas firm said on Friday.

Statoil in early 2014 launched plans to construct an oval
building with a sloping roof to accommodate some 3,500 employees,
but the price of Brent crude has since fallen by half, forcing a

"At that time we expected the need for office space to increase,
but today the existing offices meet our needs," Statoil's
spokesman Morten Eek said.

"It became possible after workforce reductions and more efficient
use of workspace," he added.

Statoil said on its website it has some 20,500 employees, down
from 23,400 in 2013. In 2015, Statoil sold its head office
building in Stavanger to Colony Capital Inc., signing a 15-year
lease with a possible extension.

Reporting by Nerijus Adomaitis

Mar 10, 2017

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