Coretrax enters Southeast Asian market with US$1.5 million investment

Coretrax, specialists in tailored wellbore and abandonment services, has invested US$1.5 million to expand into the Southeast Asian market.

In conjunction with the firm’s technical partner, OLIO Group, a team of 15 people work in Malaysia from its facilities in Kemaman, Labuan and Kuala Lumpur. The number is expected to grow in coming months.

Coretrax was established in 2008 and provides field-proven wellbore and abandonment solutions for global operators. It has eight bases globally, including Dubai, Saudi Arabia and Abu Dhabi. This latest investment is key to Coretrax’s ambitious plans to penetrate the region.

Coretrax global business development director, John Fraser, said: “We’ve worked hard these past ten years to develop an unrivalled product offering which is transferable to operations globally.

“South East Asia – and in particular Malaysia – is such a diverse market where drilling, completion and abandonment operations are ever increasing. Because of this, we recognised the opportunity to bring our established portfolio to the region, delivering the same time and cost savings we have achieved in the UK and Middle East.”

Earlier this month, Coretrax won the Export Achievement category at this year’s Society of Petroleum Engineers (SPE) Aberdeen Section Offshore Achievement Awards for its success in international export.

John continued: “The Offshore Achievement Awards are highly respected in the industry, and we were delighted to win the Export Achievement accolade, which really does underpin our accomplishment and unwavering dedication to the global marketplace.

“Exporting to international markets, twinned with our ethos for excellent customer service, has long been key to our business strategy and resulting success. We’re looking forward to mirroring this in South East Asia.”