The DEA oil company reduced half of their staff in Norway

The DEA oil companyThe DEA oil company .Photo: DEA

DEA Oil Company is planning to reduce the number of employees in Norway from around 180 to 90 by the summer of 2017. The company will no longer have offices in Oslo and will just keep the office in Stavanger.

The weak oil market and synergies formed based on the merger of DEA Norway and E.ON E & P Norway are the reasons for downsizing, reported by newspaper Dagens Næringsliv.

– Like any other oil company, we must adapt to a world where the price of oil is lower than it was a few years ago while these are impacting each other’s. This downsizing also means that we somehow justify our strategic focus, says communications manager Kjetil Hjertvik TDN Finans.

DEA Norway has about 90 employees in Stavanger and similar number are in Oslo, but by the end of the first half of 2017 it will be reduced to below 90 employees in Stavanger.

Source: NTB scanpix / Norway Today