The Scottish Loan Fund Invests £3.5 Million in Coretrax
Maven Capital Partners (Maven) announced a £3.5 million Scottish Loan Fund (SLF) investment in energy services business Coretrax Technology Limited (Coretrax). Set up in 2011 by the Scottish Investment Bank, the investment arm of Scottish Enterprise, and managed by Maven, the £113 million SLF provides loans of up to £5 million to ambitious Scottish businesses. Since launch the SLF has committed over £30 million in support of growth-focused companies. Coretrax was established in 2008 and offers a wide range of downhole tools and services with applications across the well life cycle…
New Operations Manager at Coretrax
Aberdeen-based oilfield services firm Coretrax Technology Limited appointed an operations manager to focus on the planning, development and execution of wellbore cleanup and displacement. In his new role, Jim Hepburn is responsible for the pre- and post-job analysis of wellbore cleanup activities, ensuring maximum value to client offshore operations. He joins the company with 12 years’ experience within the oil and gas industry. Prior to joining Coretrax, Mr. Hepburn worked as an operations engineer for two years and an offshore wellbore clean up engineer for four years, at Baker Hughes.
Coretrax Moves to New Purpose Built Facilities
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…
North Sea Success for Coretrax Technology
Aberdeen-based oilfield services firm Coretrax Technology Limited has secured over £1.2million of contracts since the start of the year and expanded its team to 12 people. Coretrax specialises in innovative oilfield services to the completion, cementing, abandonment and wellbore clean up sectors both in the North Sea and globally. The contract wins are for projects in the North Sea utilising Coretrax’s innovative wellbore clean up tools and chemicals. The team in Aberdeen has…
