Altus to continue wireline service arrangement with Statoil

Statoil has extended Altus Intervention’s contract for the provision of mechanical wireline services on fields and drilling rigs offshore Norway.

May 27th, 2014

Offshore staff

STAVANGER, Norway – Statoil has extended Altus Intervention’s contract for the provision of mechanical wireline services on fields and drilling rigs offshore Norway.

Altus, previously known asAker Solutions’ Well Intervention Services, has provided mechanical wireline services to Statoil since 1984. The new terms extends the partnership until early 2017, and should generate Altus revenues close to $168 million.

Offshore, the contract comprises mechanical wireline and optional logging services on the following Statoil-operated fields: Heidrun, Njord A, Grane, Gullfaks A, B and C, Heimdal, Huldra, Kvitebjørn, Oseberg B, C, East and West, Troll A, Veslefrikk, Visund A, and Volve.

Altus will additionally perform mechanical wireline work on most of Statoil’s mobile rigs in theNorth Sea, taking in fields including Gullfaks satellites, Heidrun satellites, Hyme, Kristin, Mikkel, Norne, Oseberg, Tune, Snorre UPA, Snøhvit, Statfjord satellites, Tordis, Troll, Vega, Vigdis, Visund, Yttergryta, and Åsgard.

The contract extension also takes in three newCat D rigs Statoil has ordered which are currently under construction in the Far East. Deliveries of the Songa Equinox, Songa Endurance, and Songa Encourage are behind schedule due to yard issues, contractor Songa Offshore reports.

05/27/2014

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