HOUSTON, TX and DHAHRAN, SAUDI ARABIA / ACCESSWIRE / September 11, 2018 / National Energy Services Reunited
Corp. ("NESR") (NASDAQ: NESR) (NASDAQ: NESRW), a national, industry-leading provider of integrated energy services in the Middle
East and North Africa ("MENA") region, through its subsidiary, National Oil Technology Company, today signed an agreement with
Dhahran Techno Valley Company ("DTVC"), a wholly owned subsidiary of King Fahd University of Petroleum ("KFUPM"). The agreement
calls for the creation of a global center for the development of scientific research in DTVC.
The agreement was signed by Prof. Dr. Sahel N. Abduljauwad, Acting Rector of King Fahd University of Petroleum and Minerals, and
Chairman of the Board of Directors of Dhahran Techno Valley Company, and Sherif Foda, CEO and Chairman of NESR, in the presence of
senior management of Saudi Aramco led by Dr. Mohammed Y. Al-Qahtani, Senior Vice President for Upstream, Saudi Aramco and Chairman
of the DTVC Advisory Committee. The signing ceremony was held at the KFUPM's headquarters in Dhahran, Saudi Arabia.
Prof. Dr. Abduljauwad stated, "We are very proud to have NESR join Dhahran Techno Valley and I am very pleased to see this level
of investment from NESR to promote scientific research and local content in the energy sector in Saudi Arabia. I am confident that
NESR will add significant value to Dhahran Techno Valley and the Saudi oil and gas industry with this investment and
commitment."
Prof. Dr. Abduljauwad added, "Dhahran Techno Valley brings together the largest number of national and international energy
companies in one place and is now the largest of its kind in the world. Techno Valley provides the necessary infrastructure,
services, and the appropriate climate to incubate the development of new technologies as part of the implementation of the Saudi
Vision 2030. The Saudi Vision 2030 emphasizes the importance of strengthening the technology sector in general, and energy
technologies in particular, in order to support the knowledge-based economy."
Dr. Qahtani stated, "We are very pleased to see NESR as the first company from this region investing at such a scale. I also
believe that NESR's approach to create an open platform for innovative technology companies to come to the Kingdom is a unique
approach and will be beneficial to the Saudi oil and gas industry. I look forward to seeing the results of their efforts and wish
them the best for the future."
Sherif Foda commented, "We are very excited to partner with Techno Valley and KFUPM. We strongly believe that with this
investment, we are taking an important step to develop fit-for-purpose techniques and technologies for Saudi Arabia as well as the
whole region. This is a key milestone for NESR and we plan to also bring our technical partners from North America to this center,
which will allow them to customize and develop technologies in Saudi Arabia for the local industry. This will also be a great
opportunity to provide high-end technical opportunities for Saudi engineers and researchers and an important vehicle for
partnership between the Saudi academic and industrial sectors."
Mr. Foda added, "I would like to take this opportunity to thank Prof. Dr. Abduljauwad and Dr. Qahtani and the management of
Saudi Aramco, KFUPM and DTVC for their support and guidance in this endeavor."
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
3,200 employees, representing more than 40 nationalities in over 14 countries, the Company helps its customers unlock the full
potential of their reservoirs by providing Production Services such as Cementing, Coiled Tubing, Filtration, Completions,
Stimulation and Fracturing, and Nitrogen Services. The Company also helps its customers to access the reservoirs in a smarter and
faster manner by providing Drilling and Evaluation services like Drilling Downhole Tools, Directional Drilling Fishing Tools,
Testing Services, Wireline, Slickline, Fluids and Rig Services.
SOURCE: National Energy Services Reunited
Corp.
https://www.accesswire.com/511733/National-Energy-Services-Reunited-Corp-Signs-an-Agreement-with-Dhahran-Techno-Valley-Company-to-Open-a-Research-Center-in-Saudi-Arabia