Friday, 16 November 2018

Company Updates

Coretrax Reports 40% Business Growth in the Middle East

Coretrax, an independent wellbore clean-up and abandonment specialist, has achieved a 40% growth in Middle East business in 2018.

The company, which opened a base in Saudi Arabia in 2014, has seen a steady uptake in activity with a growing demand for its wellbore clean up products which provide substantial operational savings to its global customers.

Coretrax currently has bases in Saudi Arabia, United Arab Emirates (UAE) and Kuwait and employs more than 50 personnel across the Middle East.

Elliot McDonough, Coretrax country manager – Saudi Arabia said: “As an independent service company, Coretrax has strengthened its position in the Middle East thanks to our culture of developing close and trusted relationships with local operators. We pride ourselves on listening to their needs and delivering workable solutions which has proved vital to our growth.” Since January 2018, the company has successfully completed more than 67 well runs of its CX-LTTT (HD) which saved a Saudi Arabian operator more than 3,500 hours and USD $9.2 million.

The CX-LTTT (HD) is a cement clean-out tool which provides a one-trip system to allow inflow testing operations to be completed in the same run as excess cement in the liner is drilled out – eliminating the need for an additional trip in-hole and saving on average 30 hours of rig time.

The tool minimizes the damage to a packer and can achieve high flow rates which is essential for recovering debris out of hole.

Kenny Murray, Coretrax managing director 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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Technology Systems Corporation
7897 SW Jack James Dr. Suite A
Stuart, FL 34997

Phone: +1 772.221.7720