June 19, 2020 / 6:28 AM / 19 days ago

Gulf Keystone Petroleum to cut around 40% of workforce

June 19 (Reuters) - London-listed oil producer Gulf Keystone Petroleum said on Friday it would cut about 40% of its workforce as it grapples with a fall in oil prices and a reduction in its work programmes due to the coronavirus crisis.

The Bermuda-based company also forecast 2020 operational expenditure of $2.7 to $3.1 per barrel, down from $3.9 per barrel in 2019.

The average number of employees and contractors employed by the company was 407, according to its latest annual report. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Aditya Soni)

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