National Energy Services Reunited Corp. (NESR), announced in a statement that it has secured multiple contract awards across several Drilling & Evaluation (D&E) service lines in key GCC countries.
The value of the total contract awards is more than USD$150 million,
These multi-year contracts encompass Slickline Services (Slickline), Tubular Running Services (TRS), and Testing Services (Testing) with multiple national oil companies (NOCs).
Sherif Foda, Chairman of the Board and Chief Executive Officer of NESR Said” As the world emerges from the global pandemic, the MENA region is positioning for a sustained, multi-year upcycle in which our key customers are aiming for substantial activity and production capacity growth.
“These marquee contract awards both strengthen our conviction in the MENA upstream outlook, and also underpin key strategic growth initiatives in our D&E segment, specifically. We have invested heavily to grow our Evaluation services by adding the latest generation Slickline technology, and in enhancing our partnerships with innovative downhole technologies addressing the clients’ needs for advanced answer products. Meanwhile, we continue to capitalize on our TRS business and enlarge our footprint by entering new countries. Finally, our Testing service line is a key segment for ESG improvement, and we are working with our clients across several initiatives to eliminate flaring during exploration and Testing operations. Our aim is to continue to differentiate and showcase the company’s ability to execute in technically challenging operating environments. I am grateful to our customers that continue to place trust in both our service delivery platform and in our strategy of localization and in-country workforce empowerment.”, statement mentioned.
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