National Energy Services Reunited Corp (NESR) an international provider of integrated energy services in the MENA region, has won multiple contracts in countries across the GCC and North Africa totalling more than US$175mn
These multi-year contracts represent both new awards and extensions across service lines in both the Drilling & Evaluation ("D&E") and Production Services ("PS") segments.
NESR had record revenue of US$283mn in the second quarter of 2023, which was approximately 10% higher sequentially and 36% higher year on year.
NESR CEO & chairman Sherif Foda commented, "Activity growth in the region continues apace, as the commitment to both oil capacity expansion and also domestic natural gas development continue to drive the MENA rig count beyond historical levels. The recent contract awards further solidify our multi-year outlook, represent attractive resource deployments, and above all signify the ardent support of our valued customers across key countries.
“When we founded NESR, one of the key strategic pillars was to expand the reach of our unique D&E portfolio beyond its stronghold in Oman. Contract awards over the past several quarters have been transformational in this strategic endeavour, as has recent research & development progress in the commercialisation of our next-generation drilling technologies."
