Global Well Intervention provider ALTUS Intervention AS, a subsidiary of Qinterra AS, has secured a long term frame agreement with Statoil for the delivery of mechanical wireline services. Total duration including options is 10 years and with an estimated value of NOK 1.200 million.

The agreement, secured by the ALTUS Intervention team, involves provision of mechanical wireline and fishing services, as well as cased hole logging and tractor conveyance as optional services. A total of 16 fixed installations, Gina Krog, Grane, Gudrun, Heidrun, Heimdal, Johan Sverdrup, Kvitebjørn, Oseberg (B, C, H, East and South), Troll, Valemon, Veslefrikk og Visund, will be covered by the agreement.

Start of the agreement will be February 1st 2017.

Åge Landro, CEO of Qinterra AS said: “ALTUS Intervention are pleased to be continuing working with Statoil on this portfolio of installations for another 10 years. This is an important award for us and it confirms the quality of the services we already provide to Statoil. Our position as the market leader in mechanical wireline in the North Sea will be maintained with this agreement secured, which is an important part of the company’s strategy.”

Qinterra AS is a leading provider of well intervention services and wireline tractor technology to the Oil & Gas industry, primarily in the North Sea where it is the market leader. The company operates two brands: ALTUS Intervention in the North Sea and Qinterra Technologies internationally. Qinterra AS, headquartered in Stavanger, has approx. 1,200 employees based in Norway, UK, Denmark, USA, United Arab Emirates, Azerbaijan, Angola and Malaysia.