American Marconi Wireless News - Saudi Aramco Awards Multi-Billion Dollar Unconventional Contract to NESR

The contract involves a significant mobilization of completion services and a broad scope-of-work, which is expected to support the next phase of growth of unconventional gas development, as part of the Kingdom's ambitious Vision 2030 plan of energy diversification. Over the course of the Unconventional contract, drilling and completion activity may trend higher than current activity levels, in support of the project scale and production targets.

NESR CEO & Chairman Sherif Foda commented, "The Jafurah development is a significant project through which the Kingdom has contributed to improving the blueprint for successful unconventional resources development worldwide, in every aspect from the start to today. In developing a data-informed approach across both exploration and development, and the factory drilling and completion of wells, Aramco has demonstrated advanced optimization. NESR initiated operations in Jafurah back in 2019, with the initial, large-scale deployment of our frac capabilities, which contributed to improvement in stage delivery and continuous record-setting results. Today, our efficiency remains competitive even with the best of US shale operations, supported in part by our agile adoption of new technologies and processes. We are extremely proud of our partnership with Aramco and look forward to enhancing our competitive integrated frac operations. I am proud to call Jafurah a cornerstone achievement for NESR, an award upon which we will continue to build the company and give back to the Saudi energy ecosystem, its people, and our communities."

Cautionary Statement Regarding Forward-Looking Statements

Statements contained in this press release that are not historical fact may be forward-looking within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such forward-looking statements may relate to, among other things, the Company's expectations regarding the exchange offer and consent solicitation. Such forward-looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in our filings with the SEC, including those factors discussed under the caption "Risk Factors" in such filings.

You are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them and to the risk factors. The Company disclaims any obligation to update any forward-looking statements to reflect any new information or future events or circumstances or otherwise, except as required by law. You should read this communication in conjunction with other documents which the Company may file or furnish from time to time with the SEC.

About National Energy Services Reunited Corp.

Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. With over 6,000 employees, representing more than 60 nationalities in 16 countries, the Company helps its customers unlock the full potential of their reservoirs by providing Production Services such as Hydraulic Fracturing, Cementing, Coiled Tubing, Filtration, Completions, Stimulation, Pumping and Nitrogen Services. The Company also helps its customers to access their reservoirs in a smarter and faster manner by providing Drilling and Evaluation Services such as Drilling Downhole Tools, Directional Drilling, Fishing Tools, Testing Services, Wireline, Slickline, Drilling Fluids and Rig Services.

For media inquiries, please contact:

Lubna Hamdan
National Energy Services Reunited Corp.
971502670225
[email protected]

For inquiries regarding NESR, or for investor queries, please contact:

Blake Gendron
National Energy Services Reunited Corp.
832-925-3777
[email protected]

SOURCE: National Energy Services Reunited Corp

View the original press release on ACCESS Newswire

O.Norris--AMWN