National Energy Services Reunited Corp. (NASDAQ:NESR) said it has secured a series of multi-year cementing service agreements worth about $300 million, according to a company announcement.
The contracts run for five years and cover projects in Kuwait and parts of North Africa. NESR delivers integrated energy services across the Middle East and North Africa.
“Based on our philosophy of fortifying our biggest segments in core countries and pulling-through these capabilities to new areas, we are pleased to see these new awards that solidify our leading position in Cementing for years to come,” said Sherif Foda, Chairman and Chief Executive Officer.
The company said the awards reflect strengthening activity across regional energy markets and build on its established cementing operations in the Gulf.
Founded in 2017, NESR operates in 16 countries and employs more than 7,000 people. Its service portfolio includes production solutions such as hydraulic fracturing, cementing and coiled tubing, along with drilling and reservoir evaluation services.