Qinterra Group’s North Sea well intervention specialist Altus Intervention and the international technology arm Qinterra Technologies have united to form one global force in well services
The combined group, known as Altus Intervention, will focus on maximising production, increasing the recovery rate from reservoirs and extending the production life cycle of wells.
Altus Intervention and Qinterra Technologies were created as two brands of Qinterra Group following EQT’s acquisition in 2014.
Speaking about the acquisition, the company stated, “The united business will now operate as one brand to offer an enhanced range of innovative and field-proven well intervention technologies, tools and services to the global oil and gas industry.”
Åge Landro, group chief executive of Altus, said, “Combining our capacity and experience in well intervention will allow us to take bold steps towards adding to and developing our products and capabilities to support the oil and gas industry, worldwide.”
He further explained that the energy landscape is constantly evolving and the company is aiming to bringing forward smarter ways of working to increase efficiencies and drive down costs.
According to the group, it has seen a growth in technology activity of more than 50 per cent in 2017. It has also secured a number of high profile contracts for well intervention projects including Maersk in Denmark and the UK, Shell in the UK and the US, Statoil in Norway and Petronas in Malaysia.
With headquarters in Stavanger in Norway, Altus Intervention brings together more than 1,000 staff across four global regions including the UK and West Africa, Norway and Denmark, the Americas and the Middle East and Asia Pacific.
Landro added, “The industry is much more receptive to new innovations and techniques. Bringing both brands together will help us meet our targets in all four regions.”
