Aberdeen-headquartered Coretrax has announced it has saved a North Sea operator more than £500,000 on a well abandonment campaign.
The wellbore clean up and abandonment specialist was selected to support decommissioning of 11 wells for a project that is expected to last until March next year.
Coretrax did not name the operator.
It said it used its CX-Tubing Hanger, which eliminates the expensive process of tubing disposal which can cost upwards of £250,000 per well and up to 30 hours of rig time.
The firm said it had already saved 28 hours of rig time on one well alone.
Global business development director John Fraser said: “We strive to deliver operational efficiencies for our clients by reducing rig time and our technologies and service led approach have quickly yielded positive results for our customer.
“Our continued investment in research and development means that we bring new solutions to the costly challenge of abandoning wells along with a track record of learnings from other successful campaigns.”
Coretrax, which also has operational bases in South East Asia and the Middle East, expects to recruit a further 20 people by the end of the year.
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