Offshore driller Atwood Oceanics has come to an agreement with the offshore employees of its Australian operating subsidiary for a new four year enterprise bargaining agreement .
The agreement provides clarity on working conditions for Atwood Oceanics’ Australian offshore employees and resets wage levels to better align with current offshore market conditions.
The agreement is anticipated to be approved by the Australian Fair Work Commission in September and will take effect upon the expiry of the nominal term of the current EBA on November 24.
“Through application of cost reduction initiatives and innovative approaches to offshore employment, this agreement will reduce offshore personnel costs by more than 19% 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. We have operated in Australia since 1972, and we look forward to a bright future in this important offshore energy market,” said Rob Saltiel, President and Chief Executive Officer of Atwood Oceanics.
