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NESR Inaugurates Flagship Innovation Center NORI In Saudi Arabia’s Dharan Techno Valley
DHARAN TECHNO VALLEY, KINGDOM OF SAUDI ARABIA / ACCESSWIRE / February 27, 2023 / National Energy Services Reunited Corp. ("NESR" or "the Company")
About this update from National Energy Services Reunited Corp
[{"type":"text","content":"DHARAN TECHNO VALLEY, KINGDOM OF SAUDI ARABIA / ACCESSWIRE / February 27, 2023 / 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, today announced the inauguration & opening of its NESR Oilfield Research & Innovation (\"NORI\") Center in Saudi Arabia's Dharan Techno Valley (\"DTV\").The NORI facility, located in the heart of Saudi Arabia's industrial research, technology and academic hub, will enhance NESR's ability to drive energy sector research & innovation across the MENA region, while also augmenting the Company's alignment specifically with Saudi Arabia's Vision 2030. A flagship student exchange program with King Fahd University of Petroleum & Minerals (\"KFUPM\") will further support NESR's leading in-country personnel development & IKTVA investment. NORI also houses the recently acquired W. D. Von Gonten state-of-the-art Reservoir Characterization lab, supporting unmatched Geological & Geophysical research with a particular focus on the burgeoning unconventional resources in Saudi Arabia and across the MENA region. Furthermore, NORI will feature an artificial intelligence (\"AI\") based Operational Intelligence lab that will support multiple segments, including NESR's rapidly evolving hydraulic fracturing and directional drilling product lines. Key ESG Impact decarbonization technologies and research initiatives will also be domiciled in NORI.NESR CEO & Chairman Sherif Foda commented, \"With the ushering in of a new activity upcycle in the MENA region, NESR is proud to inaugurate a world class R&D center that will both deepen the NESR commitment to in-country investment in Saudi Arabia, and also strengthen key strategic initiatives across the entire region. NORI is now the nexus for NESR in connecting investment capital to human capital and cutting-edge technology development, and I am excited that ongoing and future R&D initiatives will now emanate from this state-of-the-art facility. NORI was constructed with NESR's long-term strategy in mind, namely that of technological expansion in both the core services business and also decarbonization solutions & partnerships in the ESG Impact segment. A facility equipped with solar power and water recycl...