Join OEdigital on Facebook Join OEdigital on LinkedIn Join OEdigital on Twitter
 

Qinterra, Altus combine

Written by  OE Staff Thursday, 14 September 2017 03:13

Qinterra Group’s North Sea well intervention specialist Altus Intervention and its international technology arm, Qinterra Technologies have combined.

With headquarters in Stavanger, Norway, the combined group will be known as Altus Intervention and brings together more than 1000 staff across four global regions: UK and West Africa, Norway and Denmark, the Americas and Middle East, and Asia Pacific.  

Following EQT’s acquisition in 2014, the two companies Altus Intervention and Qinterra Technologies were created. The united business will offer an enhanced range of innovative and field-proven well intervention technologies, tools and services. 

Group chief executive, Åge Landro, who joined in February 2016, will continue to lead the company.

With established innovation centres in Stavanger and Houston, the group has invested over £50 million in new technology over the past three years. So far, this year the group has seen a growth in technology activity of more than 50% and a number of high profile contracts secured with operators. This includes well intervention projects with Maersk in Denmark and the UK, Shell in the UK and US, Statoil in Norway and Petronas in Malaysia. This has increased the company’s contract backlog by 40% in the last 12 months.

Landro says: “The industry is much more receptive to new innovations and techniques. Building on our strong engineering capabilities, technical expertise and unrivalled industry exposure. We will now have a leaner, stronger and broader business across a wide range of markets, allowing us to create a global leader in well intervention. Bringing both brands together will help us meet our targets in all four regions.”

Read 2124 times