BP Reduces Lower 48 Workforce as Part of Transition
BP plc has reduced the size of its U.S. Lower 48 onshore workforce as part of its transition to establishing a separate business unit to oversee its onshore oil and gas resources in the Lower 48 states.
“With the changes to our U.S. Lower 48 onshore business, we expect to build a stronger, more competitive and sustainable business that will be a key component of BP’s portfolio going forward,” said Brett Clanton, BP press officer, in a statement to Rigzone.
The company will not comment on specific staffing levels across the business or at individual locations during the transition, Clanton said.
In early March, BP announced it would establish a separate business to manage its U.S. Lower 48 onshore assets. BP expected its decision to split the business from the rest of BP to bolster the unit’s competitiveness by allowing for greater speed of innovation, faster decision-making and shorter cycle times from access through to production, the company said in a March 4 press statement.
The company will continue to own the business, which would be led by a separate management team from a new location in Houston apart from BP’s Westlake campus. The new unit would have separate governance, processes and systems to address the "unique competitive and operating environment" of the U.S. Lower 48. BP said in March it expected to begin disclosing separate financials for the new business in 2015.
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