Thread regarding ExxonMobil Corp. layoffs

Nigeria's Seplat in talks to buy Exxon's local shallow-water oilfields

What will likely be the termination/transfer strategy for both National and expat employees if the deal materializes?

From Reuters: https://www.reuters.com/markets/deals/nigerias-seplat-talks-buy-exxons-local-shallow-water-oilfields-2021-11-29/

Nov 29 (Reuters) - Nigeria's Seplat Energy (SEPLAT.LG) along with a partner is in talks to buy ExxonMobil's (XOM.N) shallow-water oilfields in the African nation, the company said on Monday, cautioning there was no certainty about the outcome.

In recent years, Exxon has been exiting investments worth billions of dollars in oil and gas fields in Europe, Asia and Africa as the U.S. energy major focuses on a handful of mega projects at home and abroad.

by Anonymous
| 1222 views | | 4 replies (last ) | Reply
Post ID: @OP+1e4ViDVX
Comment! It's anonymous!

4 replies (most recent on top)

Can this count as structural cost/employee reduction?

by Anonymous
| | Reply
Post ID: @5xll+1e4ViDVX

In some business units where the affiliate's asset transferred to the buyer, EM usually keeps the Operations Technical/engineering organization and most of the younger demographics, while the older and experienced folks were transferred along with the assets.

by Anonymous
| | Reply
Post ID: @1ufd+1e4ViDVX

Will there be opportunity for national employees to be absorbed by Houston like when Chavez nationalized Venezuelan affiliates?

by Anonymous
| | Reply
Post ID: @1hbs+1e4ViDVX

Should be interesting. The shallow water stuff is JV with NNPC from Mobil so my guess is that the national employees go with new company or laid off. Don't think many expats in that business line. Less obvious is the deepwater line of business that we plan to keep. Keep that office in Nigeria with mixture of nationals and expats?

by Anonymous
| | Reply
Post ID: @jvx+1e4ViDVX

Post a reply

: