Hibernia Agreement

St. John`s, April 1, 2019 – A new agreement on the common use of resources will be announced. New agreement to ensure the NFLD`s share of offshore revenues Canada and Newfoundland and Labrador also agreed to cooperate in planning the development of the offshore area, developing oil resources and protecting marine biodiversity. These include an agreement to limit oil development in the proposed Laurentian Channel naval reserve and to allow oil development in the northeast. ST. JOHN`S – Unifor Local 2121 members have ratified a four-year collective agreement that represents an 11.75 per cent increase over the term of the contract. “It is fitting that the 70th anniversary of our Confederation with Canada coincides with the signing of this agreement that supports a better and safer future for generations of new and Labradorian countries. Our association with Canada was based on the promise of a partnership, one that would improve the standard of living of the people our two governments serve. Today, we have kept that promise. On April 1, 2019, the province reached a new agreement with the Canadian government, the main themes of which were discussed and collaborated. The Government of Canada is committed to investing and entering into agreements that help create and protect high-quality, well-paying jobs in the middle class, develop natural resources in the right way, and create the conditions for sustainable economic growth for years to come. The province announced that the new agreement includes a “dispute settlement clause guaranteeing respect for Newfoundland and Labrador`s rights,” as well as the federal government`s commitments to “strengthen joint management of the Offshore Development of Newfoundland and Labrador” and “review the finances of the Muskrat Falls project to achieve lower interest rates.” [5] The federal Minister of Finance should meet with the province to move forward on this issue to avoid a possible doubling of electricity prices in the province as a result of significant cost overruns under the Muskrat Falls water project. [6] Unifor represents nearly 400 workers on hibernia, the world`s largest offshore oil rig, off the coast of Newfoundland and Labrador. The new agreement strengthens the rollover differential, incentive premiums, travel reimbursement and leave rights.

The contract, including wage increases, is part of Unifor`s national energy model agreement, which is negotiated across the country and implemented across the country. As we celebrate the 70th anniversary of Confederation of Newfoundland and Labrador with Canada, Honorary Minister of Aboriginal Services Seamus O`Regan, Minister of Aboriginal Services, today announced, on behalf of Minister of Honour Dominic LeBlanc, Minister of Intergovernmental and Northern Affairs and Trade de Denin, that the Government of Canada and the Government of Newfoundland and Labrador have completed their review of the 2005 Offshore Revenues Agreement. , and secured a new agreement on resource sharing: hibernia Dividend Backed Annuity Agreement.

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