“Some redundancies are expected throughout the Tullow Group, including Ghana. The extent of redundancies and organisational changes will be determined on case by case basis and may therefore differ from one Tullow operation to the next,” a statement from the company said.
The statement added that the company is taking this decision due to low crude oil prices and high industry costs; it is incumbent on Tullow as a prudent and responsible operator to undertake a global review of its operation to ensure business efficiency and cost reduction.
The statement added that all Tullow locations across the world are undertaking an organisational review to identify opportunities to optimise synergies, achieve cost reduction and ensure improved efficiencies.
In addition, the review is being undertaken across the full spectrum of Tullow’s; including exploration, projects development, operations and staffing.
The company has therefore confirmed that it has begun a period of consultation with its employees as part of the group-wide programme to increase efficiency and reduce costs.
Notwithstanding these circumstances, Tullow says it remains committed to its stated goals of local content and localisation in Tullow Ghana.
It will continue to invest in building the capacity of Ghanaians to perform highly skilled roles in every aspect of Ghana’s fast-growing oil and gas industry.