Aker Solutions well intervention services business restructured

Aker Solutions’ former well intervention services business, which was acquired by private equity fund EQT VI in January this year, has been restructured and will operate under two brands from 22 April 2014: Altus Intervention and Qinterra Technologies.

“Put simply, Altus Intervention is the brand that our North Sea customers will relate to. Operationally this is no change from today, says 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”, adds Rasmussen.

Well services in the North Sea

Altus Intervention is a North Sea market leader within well services. It offers wireline, wireline tractor, coiled tubing and logging services in Norway, Denmark and the UK. Its UK operation also offers pipeline and process services.

‘Altus’ is a Latin adjective, meaning high, deep, noble or profound.

The company employs approximately 1 300 people in Norway (Stavanger, Bergen and Stjørdal), Denmark and the UK. Halle Aslaksen will head up the Scandinavian operation out of Stavanger, Norway, while Garry Michie continues to lead the UK business from Aberdeen, UK.

Global offerings of specialist intervention technology

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 approximately 300 people. It has operations in Norway, UK, Canada, USA, Oman, Saudi Arabia, United Arab Emirates, Russia, Azerbaijan and Malaysia. Today, the business is one of three major players in the global wireline tractor market.

Qinterra Technologies (pronounced ‘kinterra’) is the bringing together of 'Q' for quality, ‘in' for intervention and ‘terra' meaning the earth. Technologies describes the company’s innovative thinking combined with unique and existing technologies.

Growing market for interventions in challenging, horizontal oil and gas wells

“The market for interventions in highly deviated and horizontal oil and gas wells is growing rapidly, both offshore and onshore. Through utilising 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”, says Rasmussen.

In addition to working directly for oil companies, Qinterra Technologies will also offers wireline tractor technology services as a sub-supplier to wireline companies around the world.

Edited from various sources by Cecilia Rehn

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/01042014/former_aker_solutions_well_intervention_services_business_restructured_as_altus_and_qinterra/