TAQA Cuts 16% of HQ Staff

Abu Dhabi National Oil Company (TAQA) announced Thursday that it will shed 16-percent of staff employed at the company’s headquarters.

As part of a move to reduce general and administrative costs by more than $20 million in 2014, the firm will see its headcount at its Abu Dhabi HQ reduced to 189 people.

"The corporate center has grown over recent years to enable us to manage TAQA's businesses across 11 countries effectively. Our commitment to pursuing excellence means we constantly review our cost base and monitor performance to ensure we deliver efficiently on our vision," TAQA CEO Carl Sheldon said.

"As we become a more cohesive international group with greater capacity in Abu Dhabi, we are able to increase efficiency by leveraging our integrated global teams."

TAQA pointed out that earlier this year a two-phased reorganization of its North American oil and gas business delivered improved performance form a simpler structure, with $28 million in annual general and administrative savings.

 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Galilee Completes Acquisition of ATP 5... (Aug 27)
 -  NPD Grants Statoil Drilling Permit in ... (Aug 27)
 -  Molopo Energy Appoints New Non-Executi... (Aug 27)
 -  McDermott Awarded Record Services Cont... (Aug 27)
 -  OMV Appoints New Executive Board Membe... (Aug 27)


Most Popular Articles

From the Career Center
Jobs that may interest you
Adminstrative Assistant - Bryan, TX
Expertise: Customer Service|Document Control|Secretarial or Administrative
Location: Bryan, Texas, TX
 
District Manager
Expertise: Operations Management|Well Servicing & Testing|Workover or Completion
Location: Colorado and Bryan, Texas
 
Vice President of HSE
Expertise: HSE Manager / Advisor|Instructor / Trainer|Well Servicing & Testing
Location: Michigan, MI
 
search for more jobs

Brent Crude Oil : $47.56/BBL 10.24%
Light Crude Oil : $42.56/BBL 10.25%
Natural Gas : $2.63/MMBtu 2.23%
Updated in last 24 hours