Baker Hughes has announced its acquisition of Altus Intervention which will boost its existing portfolio in oilfield technologies and integrated solutions through optimizing life-of-well capabilities.

The company highlighted that this is an important development as operators seek to improve efficiencies from mature fields. 

Altus Intervention is a leading international company specialized in integrated well intervention solutions and down-hole technology for 40 years. Its headquarters is Norway and it is operating in 11 countries.

“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,” said 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,” Borras.

According to the company’s statement, the acquisition is expected to be completed in H2 2022 and will be integrated into Baker Hughes’ Oilfield Services segment. The acquisition agreement includes all intellectual property, personnel, and commercial agreements.