Royal Dutch Shell isn’t planning major layoffs in its deepwater presence in New Orleans despite a global restructuring announced Tuesday.

“We anticipate a minimal number of personnel changes, since this is not part of a cost-cutting or staff reduction initiative,” Shell spokeswoman Kimberly Windon said in an email.

“Louisiana is home to many of our employees and contractors,” she added. “New Orleans is a critical operational base and center of expertise for our Gulf of Mexico projects and assets.”

Shell detailed its strategy Tuesday for adjusting to slumping oil prices ahead of its merger with British rival BG Group, which it agreed to buy in April.

“Low oil prices are driving significant changes in our industry. I am determined that Shell will be at the forefront of that, and emerge as a more focused and more competitive company as a result,” Shell’s CEO, Ben van Beurden, told shareholders and investors Tuesday in London.

In July, Shell announced it would cut about 6,500 jobs worldwide. The cuts were set to include some of Shell’s 2,317 employees and contractors at One Shell Square.