Coretrax, wellbore and abandonment services player, has expanded into South-East Asia with a $1.5 million investment across three bases in the region.
In conjunction with its technical partner, OLIO Group, a team of 15 people work in Malaysia from facilities in Kemaman, Labuan and Kuala Lumpur with this number is expected to grow in coming months.
Coretrax has eight bases globally, including Dubai, Saudi Arabia and Abu Dhabi. Coretrax said that this latest investment is key to its plans to penetrate the region.
Coretrax global business development director, John Fraser , said: “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.”
Coretrax has scooped up the Export Achievement Award at this year’s Society of Petroleum Engineers (SPE) Aberdeen Section Offshore Achievement Awards for its success in international export.
“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,” Fraser added.