Statoil extends Altus Intervention deal

  • Business & Finance

Oil major Statoil has extended its contract with a well intervention specialist, Altus Intervention, for power mechanical services for several fields offshore Norway. 

The company informed on Thursday that the fields include Heidrun, Statfjord, Snorre, Sleipner, and Statoil’s satellite fields. The agreement with Statoil has been running for two years.

Also, this contract comes as an addition to the contract Altus Intervention already has across 16 fixed NCS installations for mechanical wireline operations, tractor conveyance, cased hole logging and plug & abandonment services.

The contract has a fixed term of four years plus three two-year extension options, for a potential contract period of 10 years.

Altus Intervention is a subsidiary of the Qinterra Group, which consists of Altus Intervention and Qinterra Technologies.

Åge Landro, CEO of Qinterra Group, said: “The contract provides Statoil with access to Altus Intervention’s expertise and technology across all its fields, and confirms our strong capabilities in an advanced well intervention market.

“In particular, the Heidrun field is great example of Statoil working in partnership with us to deliver creative downhole solutions and optimal well performance.”

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