Wide-scale layoff in Statoil Azerbaijan company

Since New Year another big company will start layoff of its staff in Azerbaijan.

The sources from the oil industry told Turan that since January 2015 Statoil Azerbaijan plans to lay off 50% of its employees.

At present the company numbers about 40 employees in Azerbaijan. Both Azerbaijani and foreign employees of the company will be laid off.

The layoff in Statoil company is not connected only with reduction of oil price. This year the company has decided to fully leave the Shah Deniz project and the South Caucasian gas pipeline, where a year ago it had a share of 25.5% and then 15.5%.

At present Statoil is a passive shareholder in such projects as Azeri-Chirag-Guneshli (ACG – 8.6%) and the oil pipeline consortium Baku-Tbilisi-Ceyhan (BTC - 8.7%).

BP-Azerbaijan company has earlier announced layoff of its staff from January 1, 2015.—0—

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