Altus Intervention to be acquired by oilfield companies large Baker Hughes
Oilfield companies large Baker Hughes has signed a deal to accumulate wells specialist Altus Intervention.
Altus employs round 1,200 folks globally, together with greater than 500 in Portlethen close to Aberdeen.
Baker Hughes has introduced it’s shopping for the agency for an undisclosed sum, with explicit give attention to Altus’ potential to assist operators improve manufacturing from mature oil and gasoline fields.
Government vp at Baker Hughes, Maria Borras, stated: “The addition of Altus Intervention helps our technique to rework core oil and gasoline operations by enhancing technological capabilities and offering prospects with higher-efficiency options.
“We worth the Altus Intervention group’s deep experience and sit up for bringing these absolutely built-in nicely intervention options to our world buyer base.”
The deal is anticipated to shut within the second half of 2022 and can see Altus Intervention built-in into Baker Hughes’ oilfield companies phase.
Baker Hughes was been requested to verify whether or not any overlap or redundancies might be anticipated for the workforce.
A spokesperson stated: “Altus Intervention’s applied sciences and options are complementary to our portfolio. We’re engaged on integration planning and can have extra info to share after closing.”
Headquartered in Norway, Altus operates in 11 nations together with the UK.
Altus Intervention chief government Age Landro stated: “Our expertise and strategies play a vital position in bettering manufacturing, nicely intervention and plug and abandonment, and we consider this settlement with Baker Hughes is the precise step ahead.
“We’re targeted on a long-standing imaginative and prescient of creating intervention smarter to ship actual change operationally and commercially, and we sit up for leveraging Baker Hughes’ sturdy community, complementary expertise and world infrastructure within the oil and gasoline business.”
Altus Intervention was established in 1980 and went on to arrange bases in areas together with the US and the Center East.
Accounts revealed on Corporations Home present that the agency’s Portlethen base had a median of 536 workers in 2020.