Qinterra nets $20m Petronas well deal

Qinterra Technologies has scooped a well services contract from Malaysia’s Petronas Carigalia worth up to $20 million.

The company, formed through the recent acquisition of Aker Solution’s well intervention services wing by Swedish private equity fund EQT, will provide services to Petronas Carigali for three years under the deal.

Qinterra will provide wireline tractor services for all of Petronas Carigali’s offshore Malaysia assets, comprising more than 50 wells.

The services will include next generation tractor applications, debris collectors and rotational equipment.

EQT bought the former Aker unit last year for around $659 million, eventually remodelling it into two separate entities: Qinterra and Altus Intervention.

Qinterra, with 300 staff, functions both as a technology supplier for sister firm Altus as well as a specialist intervention technology outfit providing wireline tractor services and mechanical tools to the global market, including Canada, the US, Saudi Arabia and Russia.

Altus, employing 1300 personnel, provides wireline, wireline tractor, coiled tubing and logging services to the North Sea market, including the UK, Norway and Denmark.

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