Qinterra unites two well intervention companies
Qinterra Group has united the operations of its North Sea well intervention specialist Altus Intervention and international technology arm Qinterra Technologies to form a global company that will specialise in well services.
The new combined group will be known as Altus Intervention and headquartered in Stavanger, Norway.
Qinterra Group chief executive Åge Landro will continue to lead the company. The move will bring together more than 1,000 staff from the UK, West Africa, Norway, Denmark, the Americas, the Middle East, and Asia-Pacific.
Landro said: "The energy landscape is constantly evolving and we are focused on bringing forward smarter ways of working to increase efficiencies and drive down costs.
"Combining our capacity and experience in well intervention will allow us to take bold steps towards adding to and developing our products and capabilities to support the oil and gas industry, worldwide."
The two companies were created after EQT’s acquisition in 2014.
Following the combination, the new company will operate as one brand and will offer an improved range of services to the oil and gas industry.
Qinterra Group has invested more than £50m in new technology following the establishment of innovation centres at Stavanger and Houston.
This year, the group has witnessed around 50% growth in technology activity and secured multiple contracts with major operators.
Contracts include well intervention projects with Maersk in Denmark and the UK, Shell in the UK and US, Statoil in Norway, and Petronas in Malaysia.