Tullow Oil plans to cut a third of its staff to slash its administration costs by a fifth, or around $20 million, a source with direct knowledge of the matter said, after weak output in Ghana, delays in East Africa and lower-than-hoped-for oil quality in Guyana.
The move would shrink Tullow, which industry sources told Reuters is looking to sell its Kenya projects once vaunted as a growth engine for the group, to a workforce of around 650 people and come alongside pay and hiring freezes, the source said.
Brazil Energy Insight 
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