Altus Intervention AS, a subsidiary of the international Altus Intervention Group AS, has secured a long-term frame agreement with Equinor for the delivery of Integrated Wireline Services. The agreement has a fixed duration of 5 years with total estimated value of NOK 2,5 billion, with potentially 3 x 2-year options.
This agreement includes the provision of fully integrated intervention services, including mechanical wireline, cased hole logging and tractor conveyance on a total of 22 installations. The start of the agreement will be May 2021 and it is expected to create several new positions and further development of employees at Altus Intervention in Norway.
Cathrine Bjaarstad, Managing Director of Altus Intervention AS said: “We are very pleased with this important award by Equinor and delighted to have secured such a material portfolio of installations for the next 5 years and potentially longer. At a critical time for the industry, this contract recognises some unique and material shifts in capability for well intervention. The scope will be led and executed as one integrated delivery by Altus together with our service partners. At the heart of this is an active collaboration model with Equinor enabling the continued development and investment in our employees, new technology and digital solutions “.
Headquartered in Stavanger, Norway, Altus Intervention is a leading provider of well intervention services and down-hole technology to the oil and gas industry with 40 years of industry experience. The company holds a strong position within integrated wireline and coiled tubing services in the North Sea and is a global frontrunner in e-line precision mechanical applications technology. Altus Intervention employs approximately 1,100 people and has operations in twelve countries across Scandinavia, UK, North America, Middle East, Africa and Asia.
For further media information, please contact:
Peter N. Keilen, Vice President Marketing Communications at Altus Intervention: tel: +47 975 89 092, e-mail: email@example.com