ConocoPhillips Plans Major Layoffs and Project Developments in Alaska's North Slope
ConocoPhillips confirmed on Wednesday that it has begun sending layoff notices to some employees on Alaska's North Slope as part of its global workforce reduction.
The company, Alaska's leading oil producer, disclosed in September that it planned to lay off up to a quarter of its global workforce, or about 3,250 employees.
The reductions come amid a period of relatively low oil prices tied to President Donald Trump's global trade war and increased supply from the Organization of the Petroleum Exporting Countries, national news outlets have reported.
ExxonMobil and Chevron also have announced major layoffs this year after they made major acquisitions as the industry consolidates. ConocoPhillips purchased Marathon Oil last year in a deal valued at $22.5 billion.
Rebecca Boys, a spokesperson with ConocoPhillips Alaska, on Wednesday declined to provide the number of layoff notices issued for the North Slope.
The company has said it won't provide those numbers specific to Alaska or other regions where it operates.
"We are always looking at how we can be more efficient with the resources we have," Boys said in the statement. "As part of this process, we have informed employees that a 20% to 25% reduction in our global workforce, which includes employees and contractors, is anticipated. The majority of these reductions will take place in 2025."
"ConocoPhillips Alaska made the decision to accelerate workforce notifications for North Slope employees to allow us to make the necessary changes ahead of our winter construction season," Boys said.
ConocoPhillips did not file a "WARN notice" with the state of Alaska about the layoffs.
Such notices provide the public with details about large layoffs including the number of employees and positions. The notice is only required if the layoffs are significant enough, under the U.S. Worker Adjustment and Retraining Notification.
ConocoPhillips says it employs about 1,000 people in Alaska.
One way the company could trigger a WARN notice requirement is a layoff of at least 33% of its active workforce, according to the Alaska Department of Labor and Workforce Development.
In Alaska, the company reached production levels of close to 200,000 barrels of oil daily last year.
The company is continuing to develop the $7.5 billion Willow field in Alaska, which is expected to begin producing oil in 2029.
ConocoPhillips has also recently released plans for a large exploration program this winter in the National Petroleum Reserve-Alaska, which is home to Willow.
The company is also pursuing federal permitting approval for a new drill site in the Alpine field on Alaska's North Slope, near the village of Nuiqsut.
The Colville Delta 8 drill site could require two years of construction before oil begins to flow, according to plans. The site could produce up to 90 million barrels of oil, the U.S. Army Corps of Engineers has said.
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