NESR Announces Multiple Contract Awards in Saudi Arabia

National Energy Services Reunited Corp. (“NESR” or the “Company”) , a national, industry-leading provider of integrated energy services in the Middle East and North Africa (“MENA”) and Asia Pacific regions, reported awards valued up to 2.5 Billion Saudi Riyal ($660 Million) for Coiled Tubing & N2, Stimulation Services and Cementing Services for a period of five (5) years with possible extensions of up to 2 years with the National Petroleum Technology Company, a subsidiary of NESR.

Dr. Mohammed Y. Al-Qahtani, Senior Vice President for Upstream, Saudi Aramco commented: “NESR is a key partner for Saudi Aramco, and we are very pleased to see National Petroleum Technology Company, a subsidiary of NESR, progress in such a short span of time. As we have previously stated, we would like to see local high- caliber firms from Saudi Arabia that have proven their ability to handle complex projects to step up and take a larger role to help achieve Saudi Aramco’s In-Kingdom Total Value Add Program (IKTVA) goals, which aim to increase the company’s locally sourced goods and services to 70 percent by 2021 and contribute to the Vision 2030, Saudi Arabia’s national transformational program. With these awards, we would also like to see NESR introduce innovative technologies to address our challenges.”

Source / More : National Energy Services Reunited Corp.

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