Wage talks involving around 8,000 oil drilling workers in Norway broke down on May 19, labor unions said, raising the risk of strike action that would disrupt oil and gas exploration.
The talks between the Norwegian Shipowners' Association and the Safe, Industri Energi and DSO unions will resume at a later date under the leadership of a state-appointed mediator and could end in a strike if those negotiations fail.
Any industrial action would most likely have only a marginal impact on production of oil and gas in the short-term but could have a greater impact in the medium to long term as expansion projects and the start-up of new fields would be delayed.
Companies affected by the talks include Transocean, Saipem, Odfjell Drilling, Maersk Drilling, Archer, Seadrill and others.
The unions represent workers on mobile offshore units as well as platform drilling on permanent installations.
Under Norway's tightly regulated collective bargaining system, workers are only eligible to go on strike if the mediation also fails.
Recommended Reading
TotalEnergies Cements Oman Partnership with Marsa LNG Project
2024-04-22 - Marsa LNG is expected to start production by first quarter 2028 with TotalEnergies holding 80% interest in the project and Oman National Oil Co. holding 20%.
TotalEnergies, Vanguard Renewables Form RNG JV in US
2024-04-24 - Total Energies and Vanguard Renewable’s equally owned joint venture initially aims to advance 10 RNG projects into construction during the next 12 months.
TotalEnergies to Acquire Remaining 50% of SapuraOMV
2024-04-22 - TotalEnergies is acquiring the remaining 50% interest of upstream gas operator SapuraOMV, bringing the French company's tab to more than $1.4 billion.
M&A Spotlight Shifts from Permian to Bakken, Marcellus
2024-04-29 - Potential deals-in-waiting include the Bakken’s Grayson Mill Energy, EQT's remaining non-operated Marcellus portfolio and some Shell and BP assets in the Haynesville, Rystad said.
Talos Energy Sells CCS Business to TotalEnergies
2024-03-18 - TotalEnergies’ acquisition targets Talos Energy’s Bayou Bend project, and the French company plans to sell off the remainder of Talos’ carbon capture and sequestration portfolio in Texas and Louisiana.