Local MSP congratulates COREX on IP100 success

Local MSP congratulates COREX on IP100 success

COREX, an international provider of improved hydrocarbon recovery services, recently welcomed local Aberdeen MSP, Mark McDonald, who presented them with their IP100 certificate.

The IP100 is the UK’s first Intellectual Property ("IP") League Table compiled by BQ Magazine in association with Metis Partners, an award-winning IP solutions firm. 

COREX received their certificate having being ranked the highest position among the oil and gas sector companies in the Intellectual Property League Table, as well as securing the top spot in Scotland and second position UK-wide.

Mark, who is an MSP for Aberdeen Donside, was welcomed to the head office by COREX Chairman Graham Robertson, CEO Stephen Anthony and Operations Manager David Donaldson who showed him and other guests around their laboratories.

The site, located in Dyce, is equipped with some of the most advanced formation damage and core analysis equipment in the industry.

Operating in a challenging market place during a time of uncertainty, COREX has built its business over the past four decades on innovation, excellent customer service and IP.

Faced with the need to reduce operating costs, the focus on and understanding of formation damage at the production and planning stages should be greater now than it has ever been. 

Stephen Anthony said: “By minimising permeability alteration (caused by formation damage) through correct due diligence and application of COREX improved hydrocarbon recovery services, an operator will be able to produce more oil in a shorter amount of time.

“This improves the economics of the well and makes the difference in terms of profitability; especially in the current low oil price environment.

“One of the ways to drive efficiency will be through innovation and adding value to existing data sets.”

Graham Robertson said, “We are extremely proud of this award especially given the recent down turn in the oil and gas industry.             

“For years, COREX has been recognised as the leading service provider in core analysis and we are committed to developing innovative ideas and solutions that keep us at the forefront of the industry.

“Having always understood the importance of IP, we are now taking a more concentrated and focused approach to it, looking now to promote, protect and develop IP.”

Visiting the site for the first time, Mark commented, “It was a pleasure to visit COREX and to learn more about the innovative and ambitious North East company.

“Having been supported by Scottish Enterprise, COREX is a fantastic example of the high calibre of work that companies across the North East and Scotland can achieve when supported.”