A restructuring of Repsol SA’s Alaska drilling project is adding to the state’s woes in the midst of the biggest oil slump since 2009. Repsol sold stakes in development and exploratory acreage in northern Alaska to its partner, Armstrong Oil & Gas Inc., for more than $800 million, according to a statement from Armstrong. The companies will defer the 2015-2016 drilling campaign initially scheduled to start this winter as part of the restructuring. As many as 500 workers on the state’s North Shore could lose their jobs in the restructuring, according to Anchorage, Alaska-based KTUU television station , citing comments from Repsol spokeswoman Jan Sieving. The restructuring comes a month after ConocoPhillips announced it would cut about 10 percent of its workforce, including 120 jobs in Alaska. The state has been hit hard by crude prices falling more than 50 percent from last year’s peak amid a global glut. […]