Lockout can stop Hydro's production on the Norwegian continental shelf
The Norwegian Oil Industry Association (OLF), which is the employer organization for oil companies that are active on the Norwegian continental shelf, announced today a lockout of all members of the Federation of Oil Workers' Trade Unions (OFS) and the union Lederne. Members of these unions are already on strike on a number of installations.
The lockout can come into effect as of 29 June. A lockout will lead to stoppage of almost all production of oil and gas on the Norwegian continental shelf (NCS) for the duration of the dispute.
For Hydro, a full production stop on the NCS will mean a loss of production of around 500,000 barrels oil equivalents per day. The oil and gas that is not produced during the industrial dispute, can be produced from these fields at later point.