Santos slashes 200 jobs (Australia)

Santos, an independent energy company from Australia, on Monday announced further workforce reductions. The company said its workers in Eastern Australia business would be affected by this round of cuts.

Santos explained the move was a part of its ongoing drive to cut costs across the company in the current period of low oil prices.

“The organisational changes are consistent with the objective of the Company’s strategic review announced in August, to restore and maximise shareholder value. Approximately 200 jobs, mainly Adelaide-based office roles, will be removed,” Santos said in a statement.

The company hopes to achieve approximately $100 million in cost savings across the company’s Cooper Basin activities over the next three years.

“These savings are in addition to the removal of 565 positions across the Company, 55% reduction in capital expenditure and 11% reduction in unit production costs announced in the company’s first half results release on 21 August 2015,” Santos said.

Share this article

Follow Offshore Energy Today

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both…

read more >

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply