20/02/2025
Fulkrum, a global leader in inspection, expediting, auditing, and technical staffing services, is pleased to announce strong performance in 2024, marked by significant revenue growth, geographic expansion, and the introduction of new service offerings. The company’s results reflect its continued commitment to meeting the evolving needs of the energy sector while investing in its workforce and operational capabilities.
In 2024, Fulkrum achieved over 40% year-on-year growth, with a notable increase in revenue and an 8% rise in gross profit. The company also expanded its workforce by 50% since Q4 2023, reinforcing its focus on attracting and retaining top talent to support its growing global operations.
Fulkrum strengthened its international presence by establishing a new entity in Basrah, Iraq, and making its first hires in India. The company has also taken steps toward incorporation in China, expected to be finalized in 2025. In addition, Fulkrum is preparing for further expansion into Suriname, Indonesia, Japan, and select European and African markets as part of its long-term growth strategy.
The company’s client base grew by 35% in 2024, driven by key projects such as Hail and Ghasha, Woodside New Energy hydrogen initiatives, and a major gas plant project in Iraq. These engagements highlight Fulkrum’s ability to support complex projects across the oil & gas, renewables, and industrial sectors.
Fulkrum also expanded its service portfolio with the launch of Asset Integrity Management (AIM) services and the continued growth of its Technical Staffing Solutions (TSS) division. The AIM offering enhances Fulkrum’s ability to provide cost-effective, tailored solutions to EPCs and Owner/Operators in the energy and petrochemical sectors, strengthening its position as a trusted partner in the industry.
Brock Falkenhagen, Global Vice President of Fulkrum, stated, “2024 was a year of great progress for Fulkrum, driven by the dedication of our team and the trust of our clients. As we look to 2025, we remain focused on investing in our people, refining our services, and expanding into key markets to better serve our customers. Our continued commitment to operational excellence and innovation will be central to our strategy in the year ahead.”
Looking forward, Fulkrum plans to build on its momentum by targeting specific new markets, further diversifying its service offerings, and making strategic investments in internal systems and processes. These initiatives will support the company’s long-term growth objectives while ensuring the highest standards of service delivery to its global client base.
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Fulkrum provides comprehensive expertise in the provision of inspection, expediting, auditing and technical staffing services across the upstream, midstream and downstream oil & gas and new energy markets.
Established in 2011, Fulkrum operates in five key regions – the Americas, Europe, Africa, Asia Pacific, the Middle East, and has a proven track record working with some of the world’s leading Operators, EPC contractors and service providers.
For more information visit: www.fulkrum.com