Coretrax Moves to New Purpose Built Facilities

Press Release
Tuesday, December 11, 2012
Ian Spence working on Coretrax SP High Strength String Magnet.

Aberdeen-based oilfield services firm, Coretrax, has moved to a new purpose built HQ with an investment of £2.4million into the office and workshop space.


Formed in 2008, the company had outgrown its previous offices in Altens, Aberdeen. The firm moved last month to accommodate its range of wellbore cleanup and abandonment tools and its growing team.  


The new 25,000sqft facility is named ‘Technology House’ and is based in Gateway Business Park near Altens.  The office will ensure the growing firm can focus on its recruitment plans – currently a team of 12 - with the new premises being able to accommodate 75 staff.


Kenny Murray, founder and director at Coretrax, 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 that have received ongoing praise amongst the oil and gas industry.”


The announcement comes after Coretrax secured a £1million contract in Egypt for wellbore cleanup and fluids services for 24 wells in the region.  The company launched its wellbore chemical division earlier this year which works alongside the firm’s award winning range of wellbore clean-up tools to remove debris impacting on wellbore productivity.


“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 the 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 prestigious ‘new idea’ category of SPE’s Offshore Achievement Awards this year.


Coretrax specializes in innovative oilfield services to the completion, cementing, abandonment and wellbore clean up sectors both in the North Sea and globally. 

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

USCG Rescues Unconscious Boater

The Coast Guard rescued an individual from a marsh flat in Barataria Waterway located approximately six miles north of Grand Isle, Tuesday. Coast Guard Sector

SHIPPINGInsight to Focus on Ship Telematics

The subject of ship telematics will be prominently featured at the upcoming SHIPPINGInsight 2015 Fleet Optimization Conference & Exhibition, which takes place in Stamford, Conn.

Euronav Acquires $ 750 mi Facility

The Executive Committee of Euronav NV today announced that it has signed a new USD 750 million senior secured amortizing revolving credit facility led by DNB

Technology

Subsea 7 Bags $150 million Offshore UK Contract Maersk

Offshore contractor Subsea 7 has been awarded a $150 million subsea, umbilical, riser and flowline (SURF) contract by Maersk Oil for the development of the Culzean field in the UK North Sea.

SMOE Wins $1bln Multi-platform Culzean Contract

Singapore's offshore services provider Sembcorp Marine has won an engineering, procurement and construction (EPC) contract worth over USD1 billion for the Culzean

SHIPPINGInsight to Focus on Ship Telematics

The subject of ship telematics will be prominently featured at the upcoming SHIPPINGInsight 2015 Fleet Optimization Conference & Exhibition, which takes place in Stamford, Conn.

Offshore

Subsea 7 Bags $150 million Offshore UK Contract Maersk

Offshore contractor Subsea 7 has been awarded a $150 million subsea, umbilical, riser and flowline (SURF) contract by Maersk Oil for the development of the Culzean field in the UK North Sea.

SMOE Wins $1bln Multi-platform Culzean Contract

Singapore's offshore services provider Sembcorp Marine has won an engineering, procurement and construction (EPC) contract worth over USD1 billion for the Culzean

India's Oil Exploration near South China Sea Irks China

The state-run China Daily says that India's plans to conduct oil exploration off Vietnam coast in the South China Sea is "illegal and is an "unwise move" that

Energy

Euronav Acquires $ 750 mi Facility

The Executive Committee of Euronav NV today announced that it has signed a new USD 750 million senior secured amortizing revolving credit facility led by DNB

NewLead's MT Nepheli Update

NewLead Holdings Ltd.announced today a review of the commercial performance of one of its bitumen tanker vessels, the MT Nepheli since the vessel was delivered to NewLead's fleet.

Nigeria Ramps up Push to Eradicate Oil Theft

Nigerian authorities hope to put an end to rampant oil theft in eight months by increasing drone and naval monitoring of territorial waters and working with local communities,

News

Cosco CSCL Merger Talks Continue

The closed-door talks on what is believed to be merger discussions between Cosco and China Shipping continue, reports local media.   According to JoC, the Chinese

CMA CGM's Profits Jump 67% in Q2

French shipping giant CMA CGM, reported a 66.7% jump in net profit to $156m in the second quarter of 2015. The result compared to a $94m net profit in the same period a year earlier.

CMES Establishes Subsidiary for Valemax

China Merchants Energy Shipping Co., Ltd (CMES), the dry and wet bulk arm of state conglomerate China Merchants Holdings (International) Company Limited, has set

Logistics

China Shipping Line to Buy 10 Vessels

China Shipping Container Lines Co is planning to buy around 10 ultralarge container ships for around $1.5 billion, despite the shipping industry struggles with a capacity glut, reports WSJ.

Cosco CSCL Merger Talks Continue

The closed-door talks on what is believed to be merger discussions between Cosco and China Shipping continue, reports local media.   According to JoC, the Chinese

CMA CGM's Profits Jump 67% in Q2

French shipping giant CMA CGM, reported a 66.7% jump in net profit to $156m in the second quarter of 2015. The result compared to a $94m net profit in the same period a year earlier.

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.9471 sec (1 req/sec)