Ophir cuts jobs, FID delayed


Issue 350 - 14 Jul 2017 | 1 minute read
In a sign of how tough market conditions still are, Ophir Energy is slashing London-based and expatriate jobs by 50% to save $10m-$12m/yr. Chief operating officer Bill Higgs will be stepping down from his role and will not be replaced. In a 12 July trading update, Ophir said H1 production was lower than expected at 11,300 boe/d, which was 1,200 boe/d below budget due to temporarily lower production from the Kerendan and Sinphuhorm gas fields in South-East Asia.

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