New Contracts Boost Coretrax Expansion Plans

CORETRAX PHOTOGRAPHY

Coretrax, the independent wellbore clean up and abandonment specialist, is gearing up for further growth after a successful half-year trading with more than £5 million of turnover recorded so far.

The Aberdeen headquartered business has taken on 30 people in the last year and said it plans to recruit up to 20 by the end of the year across engineering, management and technical disciplines following new international contracts.

The company, which supports global drilling, completion and end-of-life operations, has also secured a trio of well abandonment contracts with North Sea operators including Spirit Energy. Coretrax will support the operator’s abandonment projects over three years deploying bespoke technologies to efficiently clear and plug wells.

Growth is being experienced across the Coretrax operational centres in the UK, Middle East and South East Asia, which opened earlier in 2018 following a £1 million investment in three Malaysian bases.

Kenny Murray, managing director and founder of Coretrax, said: “Continuing to invest in our people and products whilst putting time and energy into tenders has contributed to a record performance so far this year. Our South East Asia operation has got off to a great start and we’ve already expanded the team to support our customers’ needs in the region.

“New onshore and offshore drilling and completions projects in the Middle East and long-term contracts in Saudi Arabia continue to drive revenue. Our high service quality sets us apart and results in repeat business from our loyal customer base and we are looking forward to taking on more people in the coming months who share that passion.”

The company is also supporting projects in the US and West Africa where it sees future market potential for its wellbore clean up technology and service offering.

Share this article

Follow Subsea World News

Posted on August 9, 2018 with tags .

Events>

<< Aug 2018 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

The European Corrosion Congress – EUROCORR

The European Corrosion Congress – EUROCORR, the EFC’s annual conference, is the flagship event of the European corrosion calendar…

read more >

ONS 2018

Offshore Northern Seas (ONS) provides a platform for the presentation of the political, economic and technological issues involving…

read more >

FPSO World Congress 2018

FPSO World Congress 2018 will take a closer look at the overall life-cycle of an FPSO…

read more >

EIC Connect Oil & Gas USA 2018

EIC Connect Oil & Gas USA 2018 is the Energy Industries Council’s (EIC) not-for-profit event designed to promote…

read more >