Energy Voice | Coretrax reports 40% growth in Middle East

Aberdeen-based oilfield services firm Coretrax has reported a 40% surge in its Middle Eastern business since the start of the year.

Coretrax launched operations in the region in Saudi Arabia in 2014 and has since expanded in Kuwait and the UAE.

The company, which employs more than 50 people across the region, said it has completed 67 runs of its CX-LTTT wellbore clean-up and abandonment tool since January, saving a Saudi Arabian operator £7million.

The tool saves on average 30 hours of rig time per operation.

The firm said it goes into 2019 with “a strong pipeline of work” in the region.

Managing director Kenny Murray said: “Since we were established, we have welcomed rapid growth globally. It is encouraging to see this success replicated across the Middle East within a relatively short timeframe.

“This is testament to our highly skilled and dedicated staff in the region and our commitment to deliver bespoke tools to overcome complex challenges.

“We will continue to bring innovative technologies to the market which provide considerable economic and time savings to operators and their complex drilling operations.

“We are entering 2019 with a strong pipeline of work with projects already scheduled in the UAE and Kuwait as we look to continue our expansion across the globe.”

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