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 been awarded one of the major contracts for cementing services by Abu Dhabi National Oil Company (Adnoc).
Founded in 2017, NESR is one of the largest national oilfield services providers in the Mena and Asia Pacific regions. With over 5,000 employees, representing more than 60 nationalities in over 15 countries, the US-headquartered 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.
In total, the announced award of framework agreements to five oilfield service providers is valued at $658 million, a strong portion of which includes NESR's scope for cementing services up to seven years.
The awards build on Adnoc's recent drilling-related investments to support its crude oil production capacity expansion, and through the company's flagship in-country value (ICV) programme, has the potential to see over 65% of the total investment directly bolster the UAE economy.
Last month Adnoc Offshore had awarded a key testing services contract to NESR.
The five-year contract, worth $169 million for surface testing, will see the company deploy its best-in-class technologies while minimizing environmental impact to support Adnoc's flagship ICV programme.
On the contract win, NESR CEO and Chairman Sherif Foda said: "We are proud to have again been selected among a short list of service suppliers, to support Adnoc's clear and unmistakable ambition for sustainable oil production capacity growth."
"Following on our recent announced award for testing services with Adnoc onshore, this pivotal cementing contract underscores our alignment with Adnoc's ICV vision and affords us the opportunity to deploy next-generation sustainable technologies across multiple service segments," remarked Foda.
Lauding Adnoc leadership for their trust in the group as a marquee service platform and partner, Foda said: "As the national champion of the Mena region, we will continue to invest locally in its people, equipment and supply chain as its scope and share of services expand."
"Adnoc is a foremost leader in ICV empowerment, for which NESR's growth strategy is uniquely aligned," he added.
