CORETRAX, leading engineered service for wellbore clean and abandonment has launched its award-winning CX-IST (Inflation Support Tool) to the oil and gas market at Adipec, following a $3 million development investment. 

The company unveiled its ground-breaking cement placement technology during Adipec, which is one of the top three oil and gas events in the world. The product significantly reduces rig time, offering substantial cost savings. The CX-IST provides operators with a critical solution to the challenges of traditional cement placement.  It gives a positive indication that the cement will be set in the correct place before latching at the bottom of the work string using a pre-installed landing sub. Once secure, pump pressure inflates the elastomer to seal the wellbore. The IST is then released by simply picking up the work string. 

Kenny Murray, managing director at Coretrax, said: “This is a monumental success for Coretrax and a game changer for the entire industry. The team is passionate about the business and has worked tirelessly for three years,  to produce an innovative product, which will benefit the oil and gas sector.”

In 2012, Coretrax was announced as the winner of the New Idea category at the Offshore Achievement Awards for its CX-IST which was awarded in recognition of the excellence in the development of the technology. Since then, the product has undergone extensive field trials in the UK and has received excellent customer response.

Driven by demand and to reflect its commitment to business in the Middle East, the company has made an $8 million investment in Saudi Arabia, where a Coretrax hub has been operational for 12 months. Currently, nine members of staff are operational from the office; this is due to grow to 16 in the coming months. Coretrax’s Dubai office opened in the summer of 2014 with an office and base in Abu Dhabi planned for early 2015.