National Energy Services Reunited Corp. (NESR), has been awarded a long-term, wireline services platform contract in Saudi Arabia, which greatly expands the scope of services provided over a nine year contract term
Within the expanded scope of the contract, NESR, an international, industry-leading provider of integrated energy services in the Middle East and North Africa region, will now provide advanced cased-hole and perforation services, in addition to the broad suite of services currently performed. This contract gives NESR the opportunity to introduce and showcase innovative technologies within the wireline product line that span the well construction and production value chain. The NESR Wireline business has grown successfully in multiple countries over the company's history and now has a solid presence, especially in Egypt and Iraq in addition to Saudi Arabia.
NESR CEO and chairman Sherif Foda commented, "Ongoing enhancement of our technology portfolio is a key growth pillar that encompasses all of our product and service lines, and this anchor wireline contract in Saudi further highlights our strategy of technology diversification on top of leading execution and service delivery.
This contract allows us to expand the scope of services provided, and since wireline is a particularly technology-rich segment within energy services, there is substantial potential for this expansion of scope. I want to thank Aramco for their trust and their collaborative support of our burgeoning wireline portfolio, part of which we plan to highlight alongside the anticipated opening of the NESR Oilfield Research Center (NORI) in Dhahran Techno Valley in early 2023."