Altus Intervention has secured a long-term frame agreement with Equinor for the delivery of Integrated Wireline Services. The agreement has a fixed duration of 5 years with total estimated value of NOK 2,5 billion, with potentially 3 x 2-year options.

This agreement includes the provision of fully integrated intervention services, including mechanical wireline, cased hole logging and tractor conveyance on a total of 22 installations. The start of the agreement will be May 2021 and it is expected to create several new positions and further development of employees at Altus Intervention in Norway.

Cathrine Bjaarstad, Managing Director of Altus Intervention AS said: “We are very pleased with this important award by Equinor and delighted to have secured such a material portfolio of installations for the next 5 years and potentially longer.  At a critical time for the industry, this contract recognises some unique and material shifts in capability for well intervention.   The scope will be led and executed as one integrated delivery by Altus together with our service partners.   At the heart of this is an active collaboration model with Equinor enabling the continued development and investment in our employees, new technology and digital solutions “.  

KeyFacts Energy Industry Directory: Altus Intervention