Coretrax invests $2mn in new UAE Base
Abu Dhabi base is company’s fourth in the Middle East
Coretrax has strengthened its position in the Middle East by opening an office in Abu Dhabi, its fourth base in the region, totalling a $2mn investment.
A team of four personnel work from the base, and this is expected to grow to 14 within the next 12 months as Coretrax expands to another office and warehouse based in Mussafah, southwest of the city, in late 2015.
Coretrax, which offer a wide range of downhole tools and services with applications across the well life cycle, currently has bases in Saudi Arabia and Dubai, which have been operational for 24 and 12 months, respectively.
The company also has a base in Ebril, Iraq and a team of 14 is currently employed across all Middle East bases.
This latest expansion signifies the next step in Coretrax’s ambitious plans to penetrate the Middle East and comes as the company announces the appointment of UAE based agent, SAMCO to represent Coretrax in Abu Dhabi.
Coretrax global business development director, John Fraser, said: “Having a permanent local presence in Abu Dhabi allows us to continue to surpass client expectations by offering a superior service and enables us to build on our customer base.
“Having now opened four offices in the Middle East further underpins and confirms our commitment to expand our offering in the region.”