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NESR Signs Agreement with ADNOC For Strategic In-Country Value Expansion
ABU DHABI, UAE / ACCESSWIRE / June 29, 2022 / National Energy Services Reunited Corp. ("NESR" or "the Company") (NASDAQ:NESR) (NASDAQ:NESRW), an
About this update from National Energy Services Reunited Corp
[{"type":"text","content":"ABU DHABI, UAE / ACCESSWIRE / June 29, 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, today announced that it has signed a Strategic Implementation Agreement (\"Agreement\") with ADNOC at the recent Make It In The Emirates Forum, to accelerate localization and support in country value (\"ICV\") expansion in United Arab Emirates (\"UAE\").\"We are pleased to have participated in the Make It In The Emirates Forum in Abu Dhabi. Furthermore, I would like to thank our esteemed partners at ADNOC for the opportunity to enter into this pivotal agreement, which will see NESR significantly expand its manufacturing footprint to support a growing base of operations in the UAE. NESR's strategy of leveraging global capital markets to accelerate localization investment across MENA aligns directly with the UAE's ICV-centric industrial growth outlook. In addition to earmarked manufacturing projects, NESR will also look to deploy ESG Impact technologies across water treatment, heat and flare capture, and emissions detection to support both ICV creation and energy transition in the UAE,\" commented Sherif Foda, NESR Chairman and CEO.Through the agreement, NESR will focus initially on the localization of a high efficiency bulk cement production facility to support ongoing operations, and over time will explore additional avenues to further expand and develop its manufacturing capabilities in the UAE. The Company aims to implement leading-edge technologies that will not only enhance the cost competitiveness of its manufacturing, but also to optimize the associated carbon footprint relative to that of incumbent technologies.About National Energy Services Reunited Corp.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 Company helps its 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 its customers to access their reservoir...