Baker Hughes has acquired Altus Intervention, one of the leading international providers of well intervention services and down-hole oil and gas technology, with an aim to enhance Baker Hughes’ life-of-well capabilities as operators look to improve efficiencies from mature fields
Altus Intervention specialises in fully integrated well intervention solutions, including proprietary technology, with commitment to innovation, skills and collaboration. Headquartered in Norway and operating in 11 countries, the company’s well intervention services and digital technologies provide more efficient solutions compared to other technologies.
“The addition of Altus Intervention supports our strategy to transform core oil and gas operations by enhancing technological capabilities and providing customers with higher-efficiency solutions,” said Maria Claudia Borras, executive vice-president of oilfield services at Baker Hughes.
“Our technology and techniques play a critical role in improving production, well intervention and plug and abandonment, and we believe this agreement with Baker Hughes is the right step forward,” said Åge Landro, CEO of Altus Intervention.
The transaction is expected to close in the second half of 2022 and will be integrated into Baker Hughes’ oilfield services segment. The acquisition agreement includes all intellectual property, personnel, and commercial agreements.