London-listed independent Rockhopper Exploration has revealed it is cutting jobs and executive pay in order to reduce costs.

Rockhopper said Tuesday that a board-led review of expenditure had led it to initiate cost reduction measures aimed at lowering corporate overheads by about 30% compared with 2019 levels.

Included in those measures is the permanent reduction to executive director base remuneration, while it also confirmed that it had reduced its overall headcount.