An international leader in the provision of creative solutions for the oil and gas completions market has set its sights on achieving turnover of £5 million and increasing staff numbers by 50% this year.

Aberdeenshire-headquartered Vulcan Completion Products (VCP) has already doubled the size of its team to 20 since October and that number is on track to grow further as the company increases focus on research and development at its global headquarters in Westhill.

A post-Covid growth strategy has seen the company benefit from Saudi Arabian investment by Alturki Holding’s oil and gas subsidiary, Sawafi. This is set to provide a springboard for further growth including consolidating the company’s Middle East presence and opening the door to premises in Houston where a new member of staff has been taken to spearhead client relations in The Americas.

In late 2022, Vulcan Completion Products announced that it had relocated its Middle east office to a new, larger office space in Dubai. From here, the growing team is working hard to enhance VCP’s foothold within the Middle East region, which is deemed to be of paramount strategic importance, both historically and in the company’s ambitious growth plans.

Commenting on recent developments, Ian Kirk of Vulcan Completion Products said: 
“What started as a three-year plan became a five-year plan due to the pandemic therefore this investment allows accelerated growth which will enable us to capitalise on more opportunities.

"We are confident that by putting down roots in key emerging markets such as the US, employing the right people in the right places, and focusing on research and development, we will be able to achieve our goals.”

Mr. Rami Alturki, President and CEO of Alturki Holding and Chairman of Sawafi added: 
“As part of our diversification strategy, we continue investing in new technology enablers, exploring more markets, and adding new products and services to our portfolio. Investing in Vulcan will further maximize the efficiencies of local upstream sector and support the Kingdom’s leadership in the global energy industry.

Sawafi MD Mr. Tarek Kachouri, said the strategic investment in Vulcan Completion Products will strengthen the market position of Sawafi and further build upon the company’s long-term vision of enhancing the self-sufficiency of the upstream sector, through local provision of services and products of the highest global standards.

Mr Kachouri commented:
“Protected by a comprehensive portfolio of patents, the Vulcan products are technically differentiated, advanced, and applicable to all types of wells. The products are well-positioned to capitalize on Aramco’s direction to drill more complex wells such as offshore gas, HTHP, deviated, and multi-lateral.”

Vulcan Completion Products’ (VCP) team specialises in design, manufacture, and application VCP draws on more than 200 years of combined industry experience to offer bespoke, innovative, and ground-breaking solutions. From centralisation, reamer and guide shoes to float equipment, cement plugs, group collars and cable protectors VCP has an unmatched record of success, with the emphasis firmly on being a quality service provider who consistently exceeds client expectations.

KeyFacts Energy Industry Directory: Vulcan Completion Products   l   KeyFacts Energy news: Aberdeen Focus