Due to oil prices spiraling downward, CH2M HILL has discontinued it’s plans to sell its share in oilfield services in Alaska and parts of Russia which provide close to 2,400 jobs
The announcement came last November and the company declined to comment over the phone, but wrote that they will “explore strategic alternatives” for their oil, gas, and chemicals business.
Recently CH2M said the offers that have been received have not reflected the value of the businesses therefore cancelling the sale.
Regional Manager Terry Bailey told employees the company will work to secure capital to improve its north slope camp.
In 2007 the company purchased Veco, entering the oilfield just as Veco’s founder was pleading guilty to bribing Alaskan lawmakers.
