HOUSTON – Aker Solutions’ former well intervention services business, which was acquired by private equity fund EQT VI in January, has been restructured and will operate under two brands – Altus Intervention and Qinterra Technologies – as of April 22.
“Put simply, Altus Intervention is the brand that our North Sea customers will relate to; operationally this is no change from today,” said Jørgen Peter Rasmussen, CEO of Qinterra, the holding company for the two brands. “The Qinterra Technologies brand, meanwhile, will represent our international wireline tractor technology and spearhead our expansion plans outside the North Sea.”
Altus Intervention offers wireline, wireline tractor, coiled tubing, and logging services in Norway, Denmark, and the UK. Its UK operation also offers pipeline and process services. The company employs 1,300 people in Norway (Stavanger, Bergen, and Stjørdal), Denmark, and the UK. Halle Aslaksen will head up the Scandinavian operation out of Stavanger while Garry Michie will continue to lead the UK business from Aberdeen.
Qinterra Technologies is a specialist intervention technology company that offers wireline tractor services and mechanical tools such as plugs and packers globally. In the North Sea, it will operate as a technology supplier to its sister company Altus Intervention Services. The company employs 300 people. It has operations in Norway, the UK, Canada, the US, Oman, Saudi Arabia, the United Arab Emirates, Russia, Azerbaijan, and Malaysia. In addition to working directly for oil companies, Qinterra Technologies will also offer wireline tractor technology services as a sub-supplier to wireline companies.
“The market for interventions in highly deviated and horizontal oil and gas wells is growing rapidly, both offshore and onshore,” Rasmussen said. “Through utilizing our adaptive wireline tractor technologies and offering fit-for-purpose combinations of innovative and field-proven well intervention technologies and tools, we can offer a highly cost-effective method of maintaining these wells and thereby help our customers reach their production targets.”