ABERDEEN, UK – Three oil service providers have joined forces to offer a well lifecycle integrity and production optimization service.
Kenny Murray continues as CEO of Coretrax and has promoted John Fraser to COO. Former Mohawk Energy CEO Scott Benzie is now chief technology officer of Coretrax.
Murray said: “Oilfield challenges continue to grow in complexity and our mission is to push boundaries to support the industry with novel and advanced ways to tackle well integrity and production optimization.
“Given current industry challenges with the low oil price and COVID-19, it’s ever more important that we support the sector with a continuous focus on reducing rig costs.”
Integrating the three companies’ products and personnel, he added, “allows us to provide life-of-well solutions from drilling to decommissioning, directly targeted at production performance and integrity issues.”
The company plans to introduce various disruptive technologies this year and will look to re-invest more than 15% of its revenues annually in R&D.
Murray added: “We also intend to increase our manufacturing capabilities, supporting the local economies in which we work.”