"Wood Group and the Unite and RMT unions can confirm we have agreed to restart the process for resolution of the current dispute. We will hold a number of full-day meetings over the next few weeks, starting early next week, to take a fresh look at the issues," the statement published on Unite's website reads.
These talks, involving employees, unions and management, will enable the conflicting sides to discuss the existing issues and achieve consensus, the statement continued.
"For these talks to be successful, it is essential to create a constructive environment in which they can take place. Wood Group has therefore agreed to stop the implementation of the current proposal for the duration of this fresh engagement and talks, and in response to this RMT and Unite have agreed to suspend any further strike action for the duration of this fresh engagement and talks," the statement stressed.
Wood Group unveiled plans in February to cut the rates paid to nearly a third of its UK workforce, citing "cost and efficiency challenges" in the British North Sea oil and gas sector.