COSL Drilling Europe Confirms Job Losses After Statoil Terminates Contract

COSL Drilling Europe has confirmed that around 230 of its employees will lose their jobs as a result of Statoil’s decision to terminate its drilling contact with the COSLInnovator (mid-water semisub). 

China Oilfield Services Limited's Norwegian subsidiary has decided not to make layoffs for employees related to COSLPromoter (mid-water semisub), which has been temporarily suspended.

Commenting on the layoffs in a translated statement on the company’s website, COSL Drilling Europe’s CEO Jorgen Arnesen said:

“It is incredibly sad that so many skilled and loyal employees are losing their jobs. The personal impact is enormous for those affected and their families.

“We are talking about employees of absolute top shelf, which have ensured that COSLInnovator and COSLPromoter have distinguished themselves as two of the most effective rigs in the North Sea. Therefore, this is very sad also for the company and the rest of the industry, which loses deep expertise and talent. When the need arises again, we hope they find their way back.”



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