Colorado-based CH2M Hill on Wednesday announced that it would “explore strategic alternatives” for its business unit which covers Alaska and Sakhalin Island, in Russia. 

The company employs about 2,400 employees within that unit, according to its announcement. 

“The Alaska and Sakhalin oil and gas business, and its dedicated and experienced workforce, have made significant contributions to the growth and value of our company,” said CH2M Hill Energy President Rob Berra, according to the release. “It is a high-quality, well-run business with longstanding client relationships that we believe has strong future prospects. We intend to explore ‘win-win’ options for our employees and clients.”

Last year, the compnay closed its Kenai business unit because it did not have the volume of work to justify keeping the unit open. 

At that time, Director of Operations and Maintenance Denis LeBlanc said the company had about 1300 people on its North Slope operations and 65 in Kenai. 

The Kenai assists did not sell in 2013 and CH2M Hill Director of Operations and Maintenance Denis LeBlanc said that property would be included in the 2014 sale. 

“We actually took it off the market,” he said. “It’s all part of the Alaska oil and gas and chemicals organization that’s being considered for sale.”

The company has enlisted the help of Bank of America Merrill Lynch to assist in the transition, according to the release.