Coretrax reports 40% business growth in the Middle East

The company says its CX-LTTT (HD) technology saved one Saudi Arabian operation 3,500 hours and $9.2mn

Elliot McDonough, Saudi Arabia country manager, Coretrax, says the company's relationship with operators helped boost business growth.
Elliot McDonough, Saudi Arabia country manager, Coretrax, says the company's relationship with operators helped boost business growth.

Wellbore clean-up and abandonment company Coretrax has seen 40% growth in its Middle East business in 2018.

The company opened a base in Saudi Arabia in 2014, and currently has bases in Saudi Arabia, the UAE and Kuwait.

"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," said Elliot McDonough, Coretrax country manager for Saudi Arabia. "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) cement clean-out tool, which the company says saved a Saudi Arabian operator more than 3,500 hours and USD $9.2 million.

CX-LTTT (HD) 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, which the company says saves an average 30 hours of rig time. The tool also minimises the damage to a packer and can achieve high flow rates which is essential for recovering debris out of hole.

"We will continue to bring innovative technologies to the market which provide considerable economic and time savings to operators and their complex drilling operations." said Kenny Murray, Coretrax managing director. “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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Oil & Gas Middle East - November 2018

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