Industrial workers in Norway reached a last minute wage deal on Wednesday, avoiding a strike that would have effected the country’s top oil services firms.
With the agreement, wages rise about 3.3 percent, more beneficial terms for offshore workers, and the option to negotiate new pension deals down the road.
“This deal is more expensive than I had hoped but we can still live with the terms of the settlement,” said Stein Lier-Hansen, the director of the employer group Norsk Industri.
The deal for offshore oil service workers includes an additional wage supplement, as well as four weeks of rest for every two weeks spent offshore.
Unions had threatened a strike involving more than 11,000 workers if government mediation failed.
Oil companies would have been the hardest hit, including top names like Aker Solutions, Kvaerner, Aibel, WorleyParsons, Nexans, and National Oilwell Varco.