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LONDON, Sept 16 (Reuters) - BP will cut around 275staff and contractor jobs in its Alaska operations in early 2015following the sale of its interests in four oil fields in theNorth Slope area, it said on Tuesday.
BP, one of the largest oil producers in Alaska, last Aprilannounced the sale of the fields to privately held Hilcorp,though it remains committed to developing Alaska's Prudhoe Bay,the largest oil field in North America.
BP has a total of 8,300 employees and contractors in Alaska,according to its website.
Its plans for expansion in Alaska include an additionalinvestment of $1 billion over five years, including twoadditional drilling rigs, one in 2015 and a second in 2016. "TheAlaska business is still very important to BP. It's just asmaller business than it was before," a BP spokesman said.
BP is also considering production of liquefied natural gas(LNG) from reserves in Alaska, the company has said.
The latest cuts are evidence of BP making divestments tosimplify its business globally, analysts at Barclays said,though it has further to go.
"What it has not done is simplify the cost base ... This isset to be the next focus for the group and supports our viewthat material efficiency gains can be made," Barclays said.
BP shares have come under pressure in recent months due touncertainties over the size of the fine the company faces overthe 2010 Gulf of Mexico oil spill as well as over the impact ofWestern sanctions on its operations in Russia.
By 1040 GMT, BP shares were trading 0.6 percent lower at 466pence. (Reporting by Ron Bousso; Editing by David Holmes)
