Norway Unions Reach Offshore Wage Deal, Preventing Strike in Oil Industry
Overview of Wage Negotiations and Strike Prevention
Background of the Dispute
OSLO, July 2 (Reuters) - Norway's unions representing workers on drilling rigs and floating production platforms reached a wage deal on Thursday evening, ahead of a midnight deadline to avert a strike, labour unions and the employers' association said.
Potential Impact of the Strike
Threatened Industrial Action
The unions had threatened to call out more than 600 members employed on Transocean's Encourage rig, Odfjell Technology's Linus rig, AKOFS Offshore's Seafarer well intervention vessel and Equinor-operated Gullfaks B platform.
Consequences for the Oil and Gas Industry
The strike would have put further pressure on Norway's oil and gas industry, which has already faced disruption from an ongoing labour dispute involving oil service workers.
Details of the Wage Agreement
Terms of the Settlement
The parties agreed on a 5.2% general wage increase, in line with settlements reached elsewhere in Norway's oil and gas industry, in addition to increases in pension contributions, the Norwegian Shipowners' Association, which represented employers in the talks, said in a statement.
Industry-Wide Implications
(Reporting by Alexander Klyve Gudbrandsen and Nerijus Adomaitis;Editing by Elaine Hardcastle)
