International specialists well intervention technology company Qinterra Technologies has been awarded a contract worth up to $20miliion (USD) to support PETRONAS Carigali Sdn Bhd operations in Malaysia.
The three year deal, will see Qinterra Technologies provide tractor services for all of PETRONAS Carigali Snd Bhd offshore assets in Malaysia.
The scope for work, which covers more than 50 wells, will see the introduction of next generation tractor applications including debris collector and rotational equipment.
It is the first contract between the two companies and it followed a competitive tendering process.
Mike Henderson, regional manager for Asia Pacific at Qinterra Technologies, said: “Our ambition is to solve our customers’ intervention challenges through offering fit for purpose combinations of innovative andfield proven technologies and tools. Our adaptive technology is low impact, efficient and focussed on enhancing production and achieving better results for our customers with less risk, time and money. We have a long track record of delivering enhanced well production and efficient solutions to our customers and whilst we have had a strong presence in Malaysia since 2008, this award is a significant win with an important new client. It will give us the platform to significantly grow our footprint and expand our services throughout the region.”
The company was formed following the acquisition of Aker Solutions Well Intervention Services in January 2014 by Swedish private equity fund EQT IV. It was subsequently rebranded to Qinterra AS, comprising the North Sea well intervention services business ALTUS Intervention and the international well intervention technology business Qinterra Technologies.
Qinterra Technologies provides wireline tractor technology and services. It currently employs around 300 people and has operations in Norway, UK, Canada, USA, Middle East, Russia, Azerbaijan and Malaysia.
Press Release, August 21, 2014