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Market Chatter: Norway's Offshore Workers Reach Wage Deal, Averting Strike

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Norway's unions representing workers on drilling rigs and floating production platforms reached a wage agreement late on Thursday, averting a strike that was due to begin at midnight, Reuters reported.

The deal reportedly includes a 5.2% general wage increase, matching settlements elsewhere in Norway's oil and gas industry, plus higher pension contributions, the Norwegian Shipowners' Association said.

More than 600 workers on Transocean's Encourage rig, Odfjell Technology's Linus rig, AKOFS Offshore's Seafarer vessel, and Equinor-operated Gullfaks B platform had been set to walk out.

The Norwegian Shipowners' Association did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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