Atwood agrees new deal with Australian offshore employees

Offshore drilling contractor Atwood Oceanics has approved a new four-year enterprise bargaining agreement (EBA) for offshore employees of its Australian operating subsidiary.

Atwood said on Wednesday that, among other provisions, the EBA provided clarity on working conditions for the company’s Australian offshore employees and “resets wage levels to better align with current offshore drilling industry market conditions.”

The company added that the EBA would take effect upon the expiry of the nominal term of the current EBA on November 24. The new deal needs to be approved by the Australian Fair Work Commission, anticipated to occur in September.

Rob Saltiel, president and CEO of Atwood Oceanics, said: “We are very pleased that our Australian offshore employees have ratified the new EBA. This is an agreement which has been developed after constructive negotiations with the employees directly affected, as occurred with our previous EBAs.

“Through the application of cost reduction initiatives and innovative approaches to offshore employment, this agreement will reduce offshore personnel costs by more than 19 percent in its first year and will allow Atwood Oceanics to provide our clients in Australia superior drilling services at more competitive day rates over the next years.”

To remind, Ensco and Atwood Oceanics recently agreed to merge, with Ensco acquiring Atwood in an all-stock transaction, subject to certain conditions and approval from both sets of shareholders. Both companies said they would hold their respective shareholder meetings related to the merger on October 5, 2017.

Share this article

Follow Offshore Energy Today

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both…

read more >

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply