Atwood Oceanics Offshore Employees in Australia Agree to New EBA
Offshore employees of Atwood Oceanics, Inc.’s Australian operating subsidiary have given approval to a new Enterprise Bargaining Agreement (EBA) for four years.
The EBA will reset the wage levels of Australia’s offshore employees to better align with current market conditions of the offshore drilling industry. It will also provide clarity on working conditions for the employees. The EBA will take effect Nov. 24 after the current one expires, pending approval by the Australian Fair Work Commission.
"We are very pleased that our Australian offshore employees have ratified the new EBA,” Rob Saltiel, President and CEO of Atwood Oceanics, said in a release. “This is an agreement which has been developed after constructive negotiations with the employees directly affected, as occurred with our previous EBAs.”
Saltiel goes on to say through the application of cost reduction initiatives and new approaches to offshore employment, the EBA will cut offshore personnel costs by more than 19 percent the first year and allow the company to provide its Australia clients drilling services at competitive day rates in coming years.
Atwood Oceanics, which was recently acquired by Ensco plc, is based in Houston and the company owns 10 mobile offshore drilling units and is constructing two ultra-deepwater drillships.
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