Baker Hughes has announced that it will be acquiring Altus Intervention, a leading international provider of well intervention services and down-hole oil and gas technology, to complement its existing portfolio of oilfield technologies and integrated solutions.
Altus Intervention employs around 1200 people globally and operates across four regions: UK and West Africa; Norway and Denmark; Americas; and Middle East and Asia Pacific.
“The addition of Altus Intervention supports our strategy to transform core oil & gas operations by enhancing technological capabilities and providing customers with higher-efficiency solutions,” commented Maria Claudia Borras, Executive Vice President of Oilfield Services at Baker Hughes. “We value the Altus Intervention team’s deep expertise and look forward to bringing these fully integrated well intervention solutions to our global customer base.”
Åge Landro, CEO of Altus Intervention, added, “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.
“We are focused on a long-standing vision of making intervention smarter to deliver real change operationally and commercially, and we look forward to leveraging Baker Hughes’ strong network, complementary technology and global infrastructure in the oil and gas industry.”
The transaction is expected to close in the second half of 2022. The acquisition agreement includes all intellectual property, personnel and commercial agreements.
