NESR Secures Its First Multi-Year Directional Drilling Services Contract in Kuwait

KUWAIT CITY, KUWAIT – Nationwide Power Providers Reunited Corp. (‘NESR’ or ‘the Firm’) (NASDAQ:NESR) (NASDAQ:NESRW), a world, industry-leading supplier of built-in power companies within the Center East and North Africa (‘MENA’) area, has introduced that the corporate has been awarded a long run contract for Directional Drilling companies in Kuwait, overlaying Directional Drilling (‘DD’), Measurements whereas Drilling (‘MWD’), Efficiency Drilling, Nicely Engineering and Logging Whereas Drilling (‘LWD’) companies for 5 years, with an possibility to increase an extra 12 months.

Alongside the same, not too long ago introduced Directional Drilling companies contract in Saudi Arabia, this award in Kuwait represents one other key DD anchor contract, via which the Firm will introduce its burgeoning portfolio of excessive finish MWD and LWD applied sciences as they’re commercialized. General, these multi-year platform contracts are anticipated to reinforce each the expansion and margin profile of the Drilling & Analysis (‘D&E’) section, as gear in these specialised product traces are deployed with the upper anticipated drilling rig enhance.

NESR CEO & Chairman Sherif Foda commented, ‘Following a number of years of heavy funding and R&D focus, we’re happy to announce one other pivotal D&E anchor contract that encompasses not solely Directional Drilling, but in addition the highly-consolidated MWD and LWD product traces, for which we need to be sure that we introduce our portfolio over the life of those contracts much like our method in Saudi & Oman. Our footprint in Kuwait has expanded considerably over the previous twelve months, and this award is additional proof of NESR’s regional platform method to speed up in-country worth creation & progress. I need to thank our shopper at Kuwait Oil Firm for his or her perception not solely within the expertise that NESR can ship, but in addition within the Firm’s manufacturing, provide chain, and repair platform that may additional assist the localization of those augmented D&E capabilities.’

About Nationwide Power Providers Reunited Corp.

Based in 2017, NESR is among the largest nationwide oilfield companies suppliers within the MENA and Asia Pacific areas. With over 5,000 staff, representing greater than 60 nationalities in over 15 nations, the Firm helps its clients unlock the total potential of their reservoirs by offering Manufacturing Providers equivalent to Hydraulic Fracturing, Cementing, Coiled Tubing, Filtration, Completions, Stimulation, Pumping and Nitrogen Providers. The Firm additionally helps its clients to entry their reservoirs in a better and quicker method by offering Drilling and Analysis Providers equivalent to Drilling Downhole Instruments, Directional Drilling, Fishing Instruments, Testing Providers, Wireline, Slickline, Drilling Fluids and Rig Providers.

Ahead-Trying Statements

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Contact:

Blake Gendron

VP

Investor Relations & Enterprise Improvement

Nationwide Power Providers Reunited Corp.

T: 832-925-3777

E: buyers@nesr.com