The Press and Journal (Aberdeen and Aberdeenshire)
Succession at Alchemy heralds new golden era
Innovator: Founder’ s son takes over
An Aberdeenshire oilfield chemistry firm is hailing the start of a new era as one of the pioneers of the market hands over the reins to his son.
Jim Murray started up Inverurie-based Alchemy Oilfield Services 15 years ago, after “inventing” the gels market for the cleaning and treating of pipelines.
After 50 years in the industry, Mr Murray is taking a step back and his son, Duncan, a 23year veteran of global recruitment firm Orion Group, has acquired the business and become managing director.
Alchemy is preducting turnover of £1 million in 2020, while aiming to potentially triple that figure in the coming years as it breaks into new markets. The firm has always attracted work by word-ofmouth via Mr Murray Sr’s “old boys’ network”, rather than marketing, and is now planning a push to “get in front” of more clients.
Oil and gas remains Alchemy’s core business, but it is now also seeking to drum up work in the nuclear and water supply industries.
Mr Murray Jr said: “We’ll turn over £1m this year, which is the best we’ve had for the past three or four years. Since the downturn it has come back up. Alchemy did pretty well throughout that period because there was continual maintenance.
“Just in this past year we’ve had a couple of large projects we’ve been working on and we’ve now got some really large opportunities in Australia. If they come off, they will triple the turnover of the company.”
Alchemy hopes to start off by doubling turnover within the next two years, gradually expanding from its current team of five employees.
About 80% of its business currently comes from its core North Sea market.
The younger Murray h a s b e e n I T a n d communications director at Inverness-based Orion
“He pretty much invented the gel market for oil and gas about 30 years ago ”
for the past 23 years, also heading up its completions and commissioning software arm.
Mr Murray Sr will be 70 this year and was looking to reduce his time with the business.A chemistry graduate who worked at the Foresterhill health campus in Aberdeen before entering the oil and gas industry, he will still be lending his expertise as Alchemy’s director of chemistry.
Mr Murray Jr said: “He pretty much invented the gel market for oil and gas, for what we do, about 30 years ago. He’s a workaholic so he’s keeping his hand in, but he doesn’t have to be there to do the nine-to-five and all the paperwork.
“He still likes going to see his favourite clients and he still likes solving problems with chemistry, so he gets a bit more time in the lab.
“Plus he’s getting three days a week at home so it is the best of both worlds.”