Saudi Aramco awards $300m integrated conventional fracturing contract to NESR


DHAHRAN, SAUDI ARABIA/ACCESSWIRE/April 18, 2022/ National Energy Services Reunited Corp. (“NESR” or “the Company”) (NASDAQ:NESR)(NASDAQ:NESRW), a leading international provider of integrated energy services in the Middle East and North Africa (“MENA”) region, announced that the company has been awarded one of the leading contracts for integrated platformless stimulation and testing (“conventional fracturing”) services in Saudi Arabia. These contracts are for a total of three years with an option to extend for two years and amount to approximately US$300 million covering fracturing, testing, cables, coil tubing, slickline services and all the associated chemistry, logistics and site services to carry out these operations.

CEO and Chairman of NESR, Sherif Foda said, “We were the first national service provider in the region to successfully execute several integrated stimulation projects in the region and we are extremely proud to have been selected from a shortlist of service providers for this flagship fracking award. We look forward to delivering innovative processes and technologies to take this project to the next level as our client is leading the way in technology adoption and efficiency. Additionally, we look forward to working closely with Saudi Aramco, in line with their net zero and sustainability goal, to minimize the carbon footprint of these operations, introduce breakthrough zero liquid discharge technologies to recycle produced water and providing minerals and fresh water not only to operations, but to the community around us. closely with Saudi Aramco not only as the world’s most reliable energy provider, but also as a world-class technology incubator and maker and adopter of disruptive innovation.”

About National Energy Services Reunited Corp.

Founded in 2017, NESR is one of the largest national oil service providers in the MENA and Asia-Pacific regions. With over 5,000 employees, representing more than 60 nationalities in more than 15 countries, the Company helps 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 customers access their reservoirs smarter and faster by providing drilling and appraisal services such as down-the-hole drilling tools, directional drilling, fishing tools, materials, cables, slicklines, drilling fluids and drilling services.

Forward-looking statements

This communication contains forward-looking statements (as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Any statements contained in this communication that are not statements of historical fact may be deemed to be forward-looking statements. Terms such as “may”, “could”, “should”, “should”, “could”, “project”, “estimate”, “predict”, “potential”, “strategy”, “anticipate”, “attempt , “”develop”, “plan”, “help”, “believe”, “continue”, “intend”, “expect”, “future”, and terms of similar significance (including negative of any of these terms) may identify forward-looking statements. However, not all forward-looking statements may contain one or more of these identifying terms. Forward-looking statements contained in this communication may include, but are not limited to , statements regarding the potential scope and timing of financial restatement, management’s plans and objectives for future operations, projections of income or loss, earnings or loss per share, capital expenditures, dividends, the capital structure or other financial elements, the per future financial position of the Company, plans and opportunities for expansion, and assumptions underlying or relating to such statement.

Forward-looking statements are not intended to predict or guarantee actual results, performance, events or circumstances and may not be realized as they are based on the Company’s current projections, plans, objectives, beliefs, expectations, estimates and assumptions. and are subject to a number of risks and uncertainties and other influences, many of which are beyond the Company’s control. Actual results and the timing of certain events and circumstances may differ materially from those described in the forward-looking statements due to these risks and uncertainties. Factors that could influence or contribute to the accuracy of any forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation: the amount, scope and timing of any financial restatements that may be required, information that may be discovered in the course of the Company’s completion of its financial results reconciliations and related analysis; the ability to recognize the anticipated benefits of the Company’s recent business combination transaction, which could be affected by, among other things, the price of oil, natural gas, natural gas liquids, competition, the ability to the Company to integrate acquired businesses and the ability of the combined business to grow and manage growth profitably; integration costs related to the Company’s recent business combination; estimates of the Company’s future revenues, expenses, capital requirements and financing needs of the Company; the risk of legal claims and lawsuits and government investigations; the financial performance of the Company; success in retaining or recruiting, or required changes in, officers, key employees or directors of the Company; current and future government regulations; developments relating to the Company’s competitors; changes in applicable laws or regulations; the possibility that the Company will be adversely affected by other economic and market conditions, political disturbances, war, acts of terrorism, international currency fluctuations, business and/or competitive factors; and other risks and uncertainties set forth in the Company’s most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”).

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

For inquiries regarding the NESR, please contact:

Blake Gendron – Vice President Investor Relations and Business Development
National Energy Services Reunited Corp.

THE SOURCE: National Energy Services Reunited Corp.

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