Business
Cairn Awards NESR Integrated Production Services Contract in India
HOUSTON, TX / ACCESSWIRE / April 12, 2022 / National Energy Services Reunited Corp. ("NESR" or "the Company") (NASDAQ:NESR)(NASDAQ:NESRW), an international,
About this update from National Energy Services Reunited Corp
[{"type":"text","content":"HOUSTON, TX / ACCESSWIRE / April 12, 2022 / 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, has announced that the company has been awarded an integrated Production Services contract from Cairn Oil & Gas (\"Cairn\") in India. Commencing by 3Q22, the contract scope spans Coiled Tubing, High-Rate Pumping, Wireline, TCP, Slickline, Thru-Tubing Services, Well Testing, Wellhead Maintenance, Heating Services, Completion Fluids & Equipment, Hydraulic Fracturing and Stimulation Chemicals, which underscores NESR's augmented integrated service delivery capabilities across a broad Production Services portfolio. The project is focal to Cairn's energy supply growth across the Rajasthan Assets Mangla, Bhagyam, Aishwarya, Barmer Hill & Satellite fields. Furthermore, the contract will underpin significant investment and in-country value (\"ICV\") creation in India, as NESR aims to bolster the domestic energy services industry while delivering on this broad service scope.NESR CEO & Chairman Sherif Foda commented, \"Anchor contract awards like this one from our esteemed partners at Cairn Oil & Gas are crucial to our continued investment in growth beyond our core GCC footprint. With this significant integrated Production Services award, NESR has achieved critical scale in India, with the multi-year growth visibility to be able to invest in local people, equipment, and next-generation upstream technologies, including key decarbonization technologies that will support sustainable energy expansion in the country. NESR understands the utmost importance of ICV creation and is uniquely positioned to invest domestically aligned with the company's localization strategy.\"Mr. Foda continued, \"I want to express my sincere gratitude to the Cairn leadership team, for their trust in NESR and their vision in supporting our National Champion growth strategy in India for years to come. We look forward to building upon our budding partnership with Cairn, and especially in exploring leading-edge sustainability technologies and processes to lower the carbon intensity of Cairn's ambitious domestic energy growth.\"Commending the partnership, Prachur Sah, Deputy CEO, Cairn Oil & Gas, said, \...