Vulcan: North-east firm led by ‘Captain Kirk’ boldly going into new markets

Star Trek-inspired Vulcan Completion Products aims to “live long and prosper” after doubling the size of its team to 20 since October.

And the fledgling Aberdeenshire firm’s headcount is expected to grow further as it increases the focus on research and development at its global headquarters in Westhill.

It is targeting £5 million this year amid plans to grow staff numbers by a further 50%.

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.”

Ian Kirk, president and chief executive, Vulcan Completion Products

The growth ambitions are fuelled by Middle East investment.

Saudi Arabia’s Alturki Holding Company acquired an undisclosed stake in the business through its Sawafi oil and gas subsidiary late last year.

Vulcan designs and manufactures engineered products for the global oil and gas industry completions market.

Ian Kirk, its president and chief executive, founded the business in 2017.

He named it Vulcan in homage to Star Trek, a favourite TV show which had already earned him the nickname Captain Kirk among family and friends.

Mr Spock, the half-Vulcan first officer and science officer aboard the show’s USS Enterprise, made famous the Vulcan salutation and spoken blessing “live long and prosper”.

Another passion of Mr Kirk’s, building and racing motorbikes, led to him joining the oil and gas industry after many years running Aberdeen business Cheyne’s Motorcycles.

His engineering skills and vast knowledge of motorcycle engines were transferable, allowing him to come up with innovative solutions for drilling challenges offshore.

From motorbikes to oil and gas

In 1994, he teamed up with Bill Barron and Alistair Clark to launch Portlethen firm Downhole Products.

The trio sold their business to US company Varel International Energy Services 14 years later in a multimillion-pound deal.

Mr Kirk sees the recent investment in Vulcan by Sawafi as a springboard for further growth at the north-east company, including consolidating its Middle East operations.

It is also paving the way for Vulcan to take advantage of opportunities in the US.

A new member of staff was recently hired to spearhead growth in the Americas from an office in Houston, Texas.

In late 2022, Vulcan announced it had relocated its Middle east office to a new, larger office space in Dubai. From there, a growing team is working hard to grow the company’s business across the Middle East.

Mr Kirk said: “What started as a three-year plan became a five-year plan, due to the pandemic.

“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.”

Vulcan’s products ‘well-positioned’ for meeting Saud oil firm’s needs

Rami Alturki, president and chief executive at Alturki, and chairman of Alkhobar-based Sawafi, said the Saudi group’s investment in “technology enablers” was part of its diversification strategy, while also adding new products and services to its portfolio.

Sawafi managing director Tarek Kachouri added: “Protected by a comprehensive portfolio of patents, the Vulcan products are technically differentiated, advance, and applicable to all types of wells.

“The products are well-positioned to capitalise on (Saudi) Aramco’s direction to drill more complex wells.”