General – Acquisition
Baker Hughes has announced it is acquiring Altus Intervention, a leading international provider of well intervention services and down-hole oil & gas technology with 40 years of industry experience.
The acquisition complements Baker Hughes’ existing portfolio of oilfield technologies and integrated solutions by enhancing the company’s life-of-well capabilities as operators look to improve efficiencies from mature fields.
Altus Intervention specializes in fully integrated well intervention solutions, including proprietary technology, with commitment to innovation, skills, and collaboration.
Headquartered in Norway and operating in 11 countries, the company’s well intervention services and digital technologies provide more efficient solutions compared to other technologies.
The transaction is expected to close in the second half of 2022 and will be integrated into Baker Hughes’ Oilfield Services segment. The acquisition agreement includes all intellectual property, personnel, and commercial agreements.