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Statoil Extends North Sea Fields Contract with ALTUS Intervention

Source: www.gulfoilandgas.com 1/19/2017, Location: Europe

Statoil extends with ALTUS Intervention for Power Mechanical Services for Heidrun, Statfjord, Snorre, Sleipner and Statoil satellite fields. The agreement runs for two years. This is in addition to the contract Altus Intervention already has across 16 fixed NCS installations for mechanical wireline operations, tractor conveyance, cased hole logging and plug & abandonment services. The contract has a fixed term of 4 years plus three 2-year extension options, for a potential contract period of 10 years.

Age Landro, CEO of Qinterra Group added

The contract provides Statoil with access to Altus Interventions expertise and technology across all its fields, and confirms our strong capabilities in an advanced well intervention market. In particular, the Heidrun field is great example of Statoil working in partnership with us to deliver creative downhole solutions and optimal well performance. I am delighted to see our innovative relationship continue.

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