National Oilwell Varco, an American offshore equipment manufacturer, is slashing another 900 jobs at its bases in Norway. NOV has factories in Søgne west of Kristiansand and Hjelset outside Molde. The 900 job losses add to 1,500 cuts NOV had announced in Norway earlier this year. NOV’s workforce in Norway will have halved by the end of this year.

Houston-head NOV is a drilling technology firm and specialist in offshore cranes. It acquired Norway’s Hydralift 13 years ago.

Norway has been especially hard hit by the drop in global oil prices this year with more than 20,000 Norwegian oil and gas staff axed in 2015. Globally, more than 250,000 offshore-related redunandacies have been announced this year.

Speaking with Splash earlier this year, Erna Solberg, the nation’s prime minister admitted Norway’s offsore sector was undergoing a “structural change” thanks to lower investments in the oil sector and local high wages.

Subscribe now for free daily news updates.

Shame on (Wart)-Silla Go woke & Go broke... Good for the...

agree with a lot of this, the only thing i can't necessarily...

It will be interesting to see what mix of these ships are ne...

Railroads like Union Pacific will continue to cause more inf...

There has never been any incentive for shipowners to report...

Do you believe we’re entering a commodities supercycle?

RT @shipping_latest: Borr Drilling secures more work for jackup in Thailand https://t.co/h5OvEcsZeo https://t.co/vy2GDWI5ng

RT @shipping_latest: PGS joins Australian carbon capture and storage developer as major shareholder https://t.co/1Jl5txgr7c https://t.co/KV…

RT @LogisticsMatter: 6m teu of surplus containers now exist https://t.co/O9XN8BOMz4 #logistics #shipping #freight

RT @Splash_247: PGS joins Australian carbon capture and storage developer as major shareholder https://t.co/JMh2AFF7fl https://t.co/G1ZQ7FD…

RT @chenmarine123: China hits 45% of global offshore wind capacity https://t.co/EVxp2S6yyf 来自 @splash_247

Don't have an account?