NSER Wins $600mln Contracts in S. Arabia

Laxman Pai
Tuesday, August 6, 2019

National Energy Services Reunited (NESR), a provider of integrated energy services in the Middle East and North Africa (MENA) and Asia Pacific regions, has been awarded contracts worth US$660 million by Saudi Aramco for coiled tubing, stimulation and cementing services for a five year period.

The contract is with the National Petroleum Technology Company, a subsidiary of NESR, for coiled tubing and N2, stimulation services and cementing services for a period of five years with possible extensions of up to two years.

Mohammed Y. Al-Qahtani, senior vice president for upstream, Saudi Aramco, said: “NESR is a key partner for Saudi Aramco, and we are very pleased to see National Petroleum Technology Company, a subsidiary of NESR, progress in such a short span of time."

"As we have previously stated, we would like to see local high- caliber firms from Saudi Arabia that have proven their ability to handle complex projects to step up and take a larger role to help achieve Saudi Aramco’s In-Kingdom Total Value Add Program (IKTVA) goals, which aim to increase the company’s locally sourced goods and services to 70% by 2021 and contribute to the Vision 2030, Saudi Arabia’s national transformational program," he added.

Mohammed continued: "With these awards, we would also like to see NESR introduce innovative technologies to address our challenges."

“These awards are key as they provide a baseline for our growing operations in Saudi Arabia” said Sherif Foda, Chairman of the Board and CEO of NESR.

“We are very grateful to Saudi Aramco for reposing their faith in us. As a premier national service provider, we have made significant investments in training and developing the national workforce in Saudi Arabia to deliver top level service quality. At NESR, we are committed to playing a positive role in the development of the communities in which we operate and that drives our commitment to leadership in IKTVA. These contracts allow us to grow our investments in our ongoing initiatives in Saudi Arabia,” Sherif added.

Categories: Middle East Contract Turb

Related Stories

Velesto’s Drilling Rigs Up for Automatization Overhaul Under New Tech Alliance

Beam’s AI-Driven AUV to Hit Offshore Wind Market in 2025

CRC Evans Secures Work at Qatar’s Largest Offshore Oil Field

Floating Wind and the Taming of Subsea Spaghetti

ADNOC Signs 15-Year LNG Supply Deal with Indian Oil

Izomax Wins a Milestone Contract with Shell

A Hydrogen Balancing Act in Offshore Energy

Equinor Picks SHI as Preferred Supplier for Korean 750 MW Floating Wind Project

ADNOC Signs LNG Supply Agreement with Osaka Gas for Ruwais LNG Project

Chinese Wind Turbine-makers Move into Europe as Trade Tensions Flare

Current News

Sapura Scoops Petrobras Contract for Pan-Malaysia Offshore Services

Velesto’s Drilling Rigs Up for Automatization Overhaul Under New Tech Alliance

US Firm Finds Chinese Partner to Deliver Mobile Offshore Drilling Units

TotalEnergies and Oil India to Jointly Tackle Methane Emissions Issues

Keppel Reclaiming Control of 13 Rigs to Cash In on Offshore Drilling Market's Growth

Global Offshore Wind Stumbles to the End of '24

Seatrium Delivers Fifth Jack-Up to Borr Drilling

Malaysia's FPSO Firm Bumi Armada Eyes Merger with MISC’s Offshore Unit

Global OTEC Presents OTEC Power Module for Remote Offshore Platforms

Beam’s AI-Driven AUV to Hit Offshore Wind Market in 2025

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com