Maersk Drilling, a unit of Danish conglomerate A.P. Moller-Maersk, will cut up to 140 jobs in Norway due to lack of work for two rigs, the drilling company said.
The jack-up rigs Maersk Gallant and Maersk Inspirer are expected to have finished their jobs in August and December respectively and negotiations are under way with the employees' union, a spokeswoman said.
Maersk Galant is currently hired by France's Total while Maersk Inspirer is hired by Norway's Statoil.
The job cuts correspond to four percent of Maersk Drilling's total workforce.
The offshore drilling industry is facing challenges as oil companies postpone or cancel exploration and development projects due to low oil prices.
Oil in January hit its lowest levels in more than a decade.
Reporting by Ole Mikkelsen