Coretrax pumps $1.5 Mi into S.E Asian market
Coretrax announced its expansion into South East Asia with a $1.5 million investment across three bases in the region. In conjunction with the firm’s technical partner, OLIO Group, a team of 15 people work in Malaysia from its facilities in Kemaman, Labuan and Kuala Lumpur with this number is expected to grow in coming months. Coretrax was established in 2008 and provides field-proven wellbore and abandonment solutions for global operators. It has eight bases globally, including Dubai, Saudi Arabia and Abu Dhabi. This latest investment is key to Coretrax’s ambitious plans to penetrate the region.
Offshore Achievement Award winners Announced
Winners of the 2018 Offshore Achievement Awards were announced last night {22 March} in a celebration of industry talent, innovation and enthusiasm. The Society of Petroleum Engineers (SPE) Aberdeen Section revealed the 11 winners to an audience of more than 450 people, with categories covering technology innovation, company performance and individual achievement across the UK offshore energy sector. Ray Riddoch, UK managing director at Nexen was named this year’s Significant Contribution winner thanks to three decades of shaping and influencing the offshore energy industry.
Coretrax saves £10 million in Rig time
Coretrax, leading engineered servicing company for wellbore clean and abandonment, has secured cost savings of nearly £10 million in rig time for UK operators. Focused on improving operational efficiencies and saving rig time in wellbore clean up and abandonment operations, Coretrax’s range of CX-products have been used extensively in decommissioning contracts with operators since 2012. One solution from the product range used was the CX-2 bridge plug which is a versatile tool, suited to multiple applications in the oilfield, which reduces cement disturbance and rig time.
