An Aberdeen-based well clean-up firm is gearing up for further growth after a successful half-year trading with more than £5 million of turnover recorded so far.
Coretrax has taken on 30 people across the firm over the past 12 months and plans to recruit a further 20 by the end of the year. The roles will be 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 their technologies to 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 firm 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.
Coretrax also offers a range of solutions and tools designed to deliver measurable cost and rig time savings. The company, which has an engineering house, workshop and test facility at its Aberdeen headquarters, employs 79 people globally.