Latest news with #SherifFoda
Zawya
04-08-2025
- Business
- Zawya
NESR lands multiple downhole drilling contracts in Kuwait
Kuwait - National Energy Services Reunited Corporation (NESR), an international, industry-leading provider of integrated energy services in the Middle East and North Africa (Mena) region, has announced that it has secured multiple, five-year downhole drilling contract awards in Kuwait worth $100 million. These incremental, multi-year awards span a number of drilling and evaluation (D&E) segments, including fishing and remedial services, downhole tools, tubing & casing running, and scope for other advanced drilling services. This comes close on the heels of the group snapping up slickline contracts worth $200 million in Kuwait and Oman. Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions, headquartered in Houston, US. These awards reflect continued NESR leadership in an important sector of drilling services, extended from the company's strong position in Oman, and in a Kuwait market that remains a bastion for robust activity growth within the Mena region, it added. NESR CEO & Chairman Sherif Foda said: "These awards further cement our position in Kuwait, following our recently announced contract win in Slickline, and support our advancement across a broad swath of services within D&E." "We sincerely thank our dear clients for their trust in our capabilities, support of our healthy investment in people and innovation in the country, especially with the significant investment we are undertaking for the AIV Advanced Innovation Valley to enhance our position as one of the preferred service leaders in Kuwait," he added. Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Yahoo
29-04-2025
- Business
- Yahoo
NESR Awarded $200 Million in New Slickline Contracts Across Multiple Countries
HOUSTON, TX / / April 29, 2025 / National Energy Services Reunited Corp. ("NESR" or the "Company") (Nasdaq:NESR)(Nasdaq:NESRW) an international, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, today announced multiple, five-year Slickline contract awards in Kuwait and Oman. Totaling US$200 million, the multiyear contracts represent new awards in a key growth service line within NESR's Drilling & Evaluation ("D&E") segment. Consistent with the expansion of evaluation services like Cased Hole Wireline and Surface Well Testing, these contracts underscore the "portfolio pull through" strategy in D&E, whereby leadership in a certain product or service, in one or two countries, is replicated across NESR's entire MENA footprint, particularly in its burgeoning share of rigless activity. NESR CEO & Chairman Sherif Foda commented, "These two new entries for NESR Slickline further our MENA leadership position in this demanding evaluation services space. Following our philosophy of expanding Slickline beyond its current stronghold in Saudi and Egypt, we are very pleased to see the segment extend into Oman and Kuwait for the first time, augmenting our already well-established business in these anchor countries. Besides volume, this brings geographic diversification to Slickline and a competitive advantage in being a top three provider of such services in the region." 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 related to its business performance, financial condition and results of operation. 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 Securities and Exchange Commission ("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 NESR 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 HamdanNational Energy Services Reunited Corp.971502670225lubna@ For inquiries regarding NESR, or for investor queries, please contact: Blake GendronNational Energy Services Reunited Corp.832-925-3777investors@ SOURCE: National Energy Services Reunited Corp View the original press release on ACCESS Newswire
Associated Press
29-04-2025
- Business
- Associated Press
NESR Awarded $200 Million in New Slickline Contracts Across Multiple Countries
HOUSTON, TX / ACCESS Newswire / April 29, 2025 / National Energy Services Reunited Corp. ('NESR' or the 'Company') (Nasdaq:NESR)(Nasdaq:NESRW) an international, industry-leading provider of integrated energy services in the Middle East and North Africa ('MENA') region, today announced multiple, five-year Slickline contract awards in Kuwait and Oman. Totaling US$200 million, the multiyear contracts represent new awards in a key growth service line within NESR's Drilling & Evaluation ('D&E') segment. Consistent with the expansion of evaluation services like Cased Hole Wireline and Surface Well Testing, these contracts underscore the 'portfolio pull through' strategy in D&E, whereby leadership in a certain product or service, in one or two countries, is replicated across NESR's entire MENA footprint, particularly in its burgeoning share of rigless activity. NESR CEO & Chairman Sherif Foda commented, 'These two new entries for NESR Slickline further our MENA leadership position in this demanding evaluation services space. Following our philosophy of expanding Slickline beyond its current stronghold in Saudi and Egypt, we are very pleased to see the segment extend into Oman and Kuwait for the first time, augmenting our already well-established business in these anchor countries. Besides volume, this brings geographic diversification to Slickline and a competitive advantage in being a top three provider of such services in the region.' 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 related to its business performance, financial condition and results of operation. 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 Securities and Exchange Commission ('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 NESR 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 press release
Associated Press
21-04-2025
- Business
- Associated Press
NESR Begins Construction of 180,000m(2) Facility at King Salman Energy Park (SPARK)
The state-of-the-art facility will be a key asset in Saudi Arabia's energy sector, offering advanced oilfield services and creating jobs opportunities KING SALMAN ENERGY PARK, SAUDI ARABIA / ACCESS Newswire / April 21, 2025 / National Energy Services Reunited Corp. ('NESR' or the 'Company') (Nasdaq:NESR)(Nasdaq:NESRW) an international, industry-leading provider of integrated energy services in the Middle East and North Africa ('MENA') region, proudly announces the start of construction on its cutting-edge industrial facility at King Salman Energy Park ('SPARK'), a leading energy industrial ecosystem strategically located at the heart of the global energy market. The Company previously announced a groundbreaking event earlier this year in February, enabling a fast-paced approach to the building of its 180,000 m² state-of-the-art facility set to transform the region's oilfield services landscape. The groundbreaking ceremony, held at SPARK, brought together prominent industry leaders, including Saudi Aramco Upstream President and SPARK Chairman Nasir K. Al-Naimi, SPARK President and CEO Mishal I. Al Zughaibi, and NESR Chairman and CEO Sherif Foda. Their participation underscores a united vision to accelerate innovation, localization, and sustainability in the Kingdom's energy sector. Mishal I. Al Zughaibi said: 'The groundbreaking of NESR's facility marks a significant milestone in SPARK's journey to becoming a global hub for energy, industry, and technology. This investment highlights the growing trust in SPARK's ecosystem and reinforces our role in enabling strategic partnerships that drive localization, innovation, and job creation-core pillars of Saudi Arabia's Vision 2030.' Sherif Foda, Chairman & CEO of NESR remarked: 'The facility will serve as a vital hub within NESR in the Kingdom and the region, driving local talent development, creating job opportunities, focusing on sustainability and embracing the highest LEED facility development standards in the world under Saudi Arabia's ambitious plans for an energy-driven future.' NESR's new facility will be a key asset supporting Saudi Arabia's energy sector, offering advanced oilfield services and creating jobs opportunities. Developed in four strategic phases, the NESR SPARK facility will introduce cutting-edge technologies for drilling optimization, well intervention, production enhancement, and sustainability solutions. In the first phase of development, NESR will transition its hydraulic fracturing operations to the new facility at SPARK, leveraging AI and machine learning to boost efficiency, enable predictive maintenance, and reduce non-productive time, positioning the facility as a pivotal hub for innovation in the regional oilfield services industry. This investment aligns with Saudi Arabia's Vision 2030 and SPARK's mission, emphasizing localization, technological advancement, and the strengthening of domestic manufacturing and service capabilities within the energy sector. By establishing this advanced facility, NESR reaffirms its commitment to enhancing the MENA energy sector at large. About NESR 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. About SPARK SPARK is a leading industrial ecosystem with sustainability at its core, connecting the world to opportunities in the Saudi energy sector and beyond. As a national megaproject proudly driving socio-economic impact locally and globally, SPARK is simultaneously catalyzing the Kingdom's role in the global energy transition while offering a world-class ecosystem in the heart of the energy market for investors and tenants. For media inquiries, please contact: Lubna Hamdan National Energy Services Reunited Corp. 971502670225 [email protected] For inquiries regarding NESR, please contact: Blake Gendron National Energy Services Reunited Corp. 832-925-3777 [email protected] SOURCE: National Energy Services Reunited Corp. press release
