Saudi Aramco Awards $300 Million Integrated Conventional Fracturing Contract to NESR


DHAHRAN, SAUDI ARABIA / ACCESSWIRE / April 18, 2022 / National Energy Providers Reunited Corp. (“NESR” or “the Company”) (NASDAQ:NESR)(NASDAQ:NESRW), an intercontinental, market-top company of integrated energy providers in the Middle East and North Africa (“MENA”) area, has introduced that the corporation has been awarded a person of the significant contracts for Built-in Rig-considerably less Stimulation and Testing Products and services (“Conventional Fracturing”) in Saudi Arabia. These contracts are for a whole time period of a few a long time with an option for a more extension of two several years and are value somewhere around USD $300 million masking fracturing, tests, wireline, coiled tubing, slickline expert services and all linked chemistry, logistics and site solutions to conduct these functions.

NESR CEO & Chairman Sherif Foda commented, “We ended up the first countrywide support provider in the region to correctly execute many integrated stimulation tasks across the area and we are extremely happy to have been selected between a brief checklist of assistance vendors for this flagship fracturing award. We glance forward to offering impressive procedures and technologies to choose this venture to the future level as our shopper qualified prospects the way in engineering adoption and effectiveness. In addition, we look ahead to functioning closely with Saudi Aramco, in line with their net-zero and sustainability ambitions, to limit the carbon footprint of these operations, introduce breakthrough Zero Liquid Discharge systems to recycle the created water, and to deliver minerals and freshwater not only to the functions but to the local community all over us. It is normally a satisfaction to get the job done carefully with Saudi Aramco not only as the world’s most responsible electricity supplier but also as a globe course technologies incubator and adopter of disruptive improvements.”

About Countrywide Electrical power Products and services Reunited Corp.

Launched in 2017, NESR is just one of the greatest countrywide oilfield products and services providers in the MENA and Asia Pacific regions. With about 5,000 workers, representing a lot more than 60 nationalities in around 15 international locations, the Firm allows its customers unlock the full potential of their reservoirs by supplying Output Solutions these as Hydraulic Fracturing, Cementing, Coiled Tubing, Filtration, Completions, Stimulation, Pumping and Nitrogen Expert services. The Company also helps its consumers to obtain their reservoirs in a smarter and faster method by delivering Drilling and Analysis Expert services this sort of as Drilling Downhole Resources, Directional Drilling, Fishing Applications, Tests Services, Wireline, Slickline, Drilling Fluids and Rig Expert services.

Ahead-Searching Statements

This conversation has ahead-hunting statements (as these kinds of time period is outlined in Area 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended). Any and all statements contained in this interaction that are not statements of historic point may possibly be considered ahead-looking statements. Conditions such as “may,” “might,” “would,” “should,” “could,” “project,” “estimate,” “predict,” “potential,” “strategy,” “anticipate,” “attempt,” “develop,” “plan,” “help,” “believe,” “continue,” “intend,” “expect,” “future,” and terms of very similar import (like the negative of any of these phrases) may establish ahead-hunting statements. Nevertheless, not all forward-wanting statements may perhaps incorporate 1 or much more of these determining phrases. Ahead-on the lookout statements in this interaction could involve, devoid of limitation, statements pertaining to the probable scope and timing of the financial restatement, strategies and objectives of administration for future operations, projections of revenue or loss, earnings or decline per share, cash expenses, dividends, capital composition or other money things, the Company’s long term economic efficiency, growth ideas and options, and the assumptions underlying or relating to any this sort of assertion.

The forward-searching statements are not meant to forecast or assurance genuine effects, functionality, events or conditions and may possibly not be understood since they are based upon the Company’s recent projections, designs, goals, beliefs, expectations, estimates and assumptions and are subject matter to a selection of threats and uncertainties and other influences, lots of of which the Firm has no control around. Real benefits and the timing of selected occasions and instances may differ materially from people explained by the forward-seeking statements as a result of these pitfalls and uncertainties. Aspects that may well influence or contribute to the precision of the ahead-wanting statements or bring about genuine benefits to differ materially from envisioned or ideal benefits could involve, with out limitation: the quantity, scope and timing of any monetary restatement that may perhaps be essential, info that may be learned in the class of the Company’s completion of the reconciliations of its money success and linked assessment the ability to understand the anticipated gains of the Company’s new business blend transaction, which may possibly be affected by, amongst other issues, the cost of oil, pure gas, organic gas liquids, level of competition, the Company’s skill to integrate the businesses acquired and the skill of the merged business to expand and regulate growth profitably integration expenses associated to the Company’s current business mix estimates of the Company’s upcoming profits, expenditures, money necessities and the Company’s have to have for financing the risk of legal complaints and proceedings and govt investigations the Company’s financial general performance good results in retaining or recruiting, or modifications demanded in, the Company’s officers, crucial workers or administrators recent and long term government restrictions developments relating to the Company’s opponents improvements in applicable rules or polices the risk that the Corporation may possibly be adversely affected by other financial and market ailments, political disturbances, war, terrorist acts, global currency fluctuations, business and/or competitive things and other challenges and uncertainties established forth in the Company’s most modern Annual Report on Sort 20-F filed with the Securities and Trade Fee (the “SEC”).

You are cautioned not to put undue reliance on forward-seeking statements for the reason that of the challenges and uncertainties similar to them and to the chance aspects. The Firm disclaims any obligation to update the ahead-on the lookout statements contained in this communication to mirror any new information and facts or future occasions or situation or usually, apart from as needed by legislation. You must go through this interaction in conjunction with other files which the Corporation may well file or furnish from time to time with the SEC.

For inquiries regarding NESR, make sure you get hold of:

Blake Gendron – VP Investor Relations & Business Development
Nationwide Power Solutions Reunited Corp.
832-925-3777
[email protected]

Source: Countrywide Strength Services Reunited Corp.

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https://www.accesswire.com/697803/Saudi-Aramco-Awards-300-Million-Built-in-Conventional-Fracturing-Deal-to-NESR



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