Shell Malaysia, a unit of gas and oil giant Shell said it will cut around 1,300 positions from its upstream division over the next two years.
This is a part of the company’s transformation programme as it focuses on “improving efficiency and removing complexity to become a more agile and competitive company,” Shell Malaysia said in a statement.
“Shell Malaysia is preparing itself to be more competitive in a low oil price environment. Continuing business as usual is not sustainable,” said Iain Lo, Chairman of Shell Malaysia.
Shell has also recently handed over its 50 percent stake of MLNG Dua to Malaysia’s oil and gas company Petronas.
Previously, MLNG Dua was operated by Shell via a production sharing contract signed with Petronas in 1993.
Shell Malaysia has a total workforce of approximately 6,500 staff.
LNG World News Staff