American Marconi Wireless News - NESR Celebrates Signing of Unconventional Frac Contract During Saudi-United States Investment Forum

NESR's unconventional contract award was part of the various agreements that collectively totalled more than USD $30 billion in value. NESR previously disclosed multiple billions in contract value for its winning position in the Jafurah frac tender, which is expected to drive significant business growth over the five-year term of the contract. At the event, NESR engaged with Aramco and several Chief Executives from some of world's largest companies, in addition to delegates from both the United States and Saudi Arabia.

Sherif Foda, Chairman & Chief Executive Officer of NESR, commented from the event, "At this pivotal event, our largest customer spoke clearly about the role that US firms have played in the success of the Saudi economy, including first production of Saudi oil, growth of the gas business, integrated downstream operations, and now the development of advanced digital technologies including Artificial Intelligence. The bond between Saudi Arabia and the United States is perhaps as strong as ever, and as the only National Champion of Saudi energy services publicly listed in the US on Nasdaq, NESR is best positioned to capture the boundless opportunities that are being generated as part of this fruitful collaboration between the two countries. From the Saudi-US investment forum came an ambitious vision of economic leadership and partnership, encompassing both energy acceleration and the AI revolution. The energy sector alone is estimated at $120 billion in total value from US-Saudi collaboration, which will be a boon to the industry in the Kingdom for many years to come. We are proud to play a role in this cross-border collaboration, and looking forward to more significant projects to come in the future."

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 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