Baker Hughes acquired Altus Intervention to enhance its oilfield services and technology capabilities, positioning itself for long-term growth in the evolving oil and gas sector.
Target Information
On April 3, 2023, Baker Hughes (Nasdaq: BKR) successfully acquired Altus Intervention, which is recognized as a leading international provider of integrated well intervention services and down-hole oil and gas technology. The transaction encompasses the full suite of intellectual property, personnel, and existing commercial agreements associated with Altus Intervention.
Altus Intervention is headquartered in Norway and operates in 11 countries worldwide. The company specializes in delivering fully integrated well intervention solutions, highlighting a strong commitment to innovation, skill development, and collaborative efforts within the oil and gas sector. The company's advanced well intervention services and digital technologies are designed to enhance efficiency compared to traditional methods.
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Industry Overview
The oil and gas industry in Norway, characterized by its robust technological advancements and commitment to sustainability, continues to evolve as companies strive for greater efficiency. With significant reserves and a history of innovation, the industry plays
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