Oil & Gas

HQ move ensures room for growth at Coretrax

PLANNING FOR FUTURE: 25,000sq ft site will be able to accommodate 75 staff

Aberdeen-based oilfield service firm Coretrax plans to more than double its workforce in the next year after moving into a new headquarters.

The company said yesterday it had invested £2.4million in the office and workshop at Gateway Business Park to the south of the city.

Coretrax has a team of 12 and plans to reach almost 30 in 12 months. The new 25,000sq ft site will be able to accommodate 75 staff.

Coretrax, founded in 2008, had outgrown its previous offices at Altens.

The firm had turnover of £1.3million in 2011 and is projecting this to rise to £2.4million in the current financial year.

Coretrax founder and director Kenny Murray said: “We are delighted to have moved into our new HQ.

“It was important our new premises could not only accommodate our growing team, but also have the space for our expanding range of tools.”

The announcement came after Coretrax won a £1million contract in Egypt for wellbore cleanup and fluid services for 24 wells.

Mr Murray added: “We are excited about 2013 and our growth in the North Sea, but also globally. We continue to place a strong focus on our technology, with our abandonment services carrying DNV accreditation, which is vital for servicing our clients to the high standards that they expect.

“We are in a strong position for continued expansion and the latest contract win in Egypt is testament to our team and innovative solutions we offer.”

The company won the new idea category at this year’s Society of Petroleum Engineers Offshore Achievement Awards.

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