Vulcan Completion Products (VCP) has set its sights on achieving turnover of £5m and doubling its staff headcount this year.
The Aberdeenshire-based business, which specialises in solutions for the oil and gas completions market, has already doubled the size of its team to 20 since October.
That number is on track to grow further, as the company increases its focus on research and development at its 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 has helped by consolidating the VCP’s Middle East presence, while opening the door to premises in Houston, where a new member of staff has been taken on to spearhead client relations in the Americas.
In late 2022, VCP relocated its Middle East office to a larger space in Dubai.
VCP's managing director Ian Kirk said: ”What started as a three-year plan became a five-year plan due to the pandemic, therefore this investment 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.”
Rami Alturki, chief executive of Alturki Holding and chair 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 maximise the efficiencies of local upstream sector and support the Kingdom’s leadership in the global energy industry.”
VCP draws on more than 200 years of combined industry experience to offer solutions such as centralisation, reamer and guide shoes, to float equipment, cement plugs, group collars and cable protectors.
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