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One in six Norwegian oil jobs could disappear before 2022

Oil companies' cost reductions to get through the tough market conditions could mean that one in six employees in the Norwegian oil industry must find a new job, projects Rystad Energy analyst.

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One in six employees in the Norwegian oil industry might find themselves without a job before 2022, projects Rystad Energy analyst Audun Martinsen.

The analyst firm expects the workforce in the Norwegian oil sector to be reduced by 22,500 positions, or roughly 15 percent, over the coming years, as the effects of the coronavirus crisis and the sudden drop in the oil price have caused oil companies to forego investments and cut costs, Martinsen tells Norwegian media E24.

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