Altus Intervention AS has secured a long-term agreement with a major NCS Operator for the integrated delivery of well intervention technology and services. The fixed term of the contract is 5 years, with 2 x 3-year possible options. The estimated contract value for the initial contract period is NOK 600 million.
The contract includes integrated delivery of Cased Hole Logging, Powered Tractor Services and Fiber Optic Logging together with Altus’ alliance partners. Commencement of the contract is scheduled in August 2021 and includes all of the operators’ installations on Norwegian Continental Shelf. This award is expected to create several new positions and further development of multiskilled employees at Altus Intervention in Norway.