KDC and NESR Secure Award for Integrated Well Delivery Campaign in Jordan

Rhea-AI Summary

National Energy Services Reunited Corp (Nasdaq:NESR) and Kuwait Drilling Company secured an integrated well delivery campaign in Jordan valued at an estimated $200 million over four years.

The program covers 80 wells; KDC will supply rigs and drilling execution while NESR provides complementary well construction services aimed at reducing waste and non-productive time (NPT). The partners cited prior integrated successes in Oman and Jordan and an initial delivery of 10 lump-sum turnkey (LSTK) wells.

Positive

• $200 million contract value over four years
• Eighty-well campaign in Jordan (80 wells)
• Initial delivery of 10 LSTK wells demonstrated integrated model
• Model aims to minimize NPT and reduce standby charges

Negative

• None.

Insights

Integrated services contract analyst

NESR and KDC won an 80‑well, integrated drilling campaign in Jordan worth $200 million over four years.

KDC will supply rigs and perform rig operations, mobilization, maintenance, logistics, and on‑site safety management. NESR will deliver well‑construction services aimed at reducing waste and non‑productive time. The contract covers eighty wells, including an initial ten lump sum turnkey wells, and builds on prior joint work in the region.

Execution risk depends on operational coordination between both parties and third‑party providers, and on sustaining rig utilization over the full four years. Key monitorables include on‑the‑ground mobilization schedules, delivery of the ten LSTK wells, and reported NPT metrics during the first campaign phase. Watch the campaign cadence and any client confirmations of milestones within the next 12–24 months to assess contract realization and revenue recognition pace.

HOUSTON, TX / ACCESS Newswire / October 8, 2025 / National Energy Services Reunited Corp. ("NESR" or the "Company") (Nasdaq:NESR) an international, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, today announced that, in close collaboration with NESR, Kuwait Drilling Company ("KDC") has secured a campaign award for integrated drilling services and well delivery in Jordan, with estimated $200 million in value over four years.

The eighty (80) well campaign in Jordan builds upon ongoing cooperation between KDC and NESR across several countries, in which the collaboration has employed an innovative business model to deliver cost-effective, high-performance wells by combining best-in-class operational practices and techniques. In this collaboration, KDC provides the rigs and associated drilling services, including mobilization, rig operation, maintenance, logistics, and on-site safety management. KDC's role encompasses the end-to-end drilling execution and coordination with third-party providers, ensuring efficient rig utilization and operational continuity, while NESR deploys services in the well construction scope with a selection of highly complementary services, effectively minimizing waste and non-productive time ("NPT") across the entire project lifecycle.

Kuwait Drilling Company Chairman, Dr. Abdulazeez Al-Rashed commented, "We are very proud of this award as it establishes the company to lead such integrated projects in Jordan and neighbouring countries. Following the initial campaign, we have demonstrated efficiency and fit for purpose set-up with NESR as our partner to deliver ten (10) lump sum turnkey ("LSTK") wells. Our aim is to continue building on the success and relationship to have a solid offering to all our clients in the region."

NESR CEO & Chairman Sherif Foda commented, "This award represents strong continuation of our extremely fruitful collaboration with KDC on similar, integrated well delivery projects across the region. Alongside KDC, recent successes in Oman and Jordan have established our solid track record in the integrated services space, and in our view represent an optimal integrated model that avoids unnecessary balance sheet waste, standby charges or subsurface risk. This campaign in Jordan reflects KDC's and NESR's ability to leverage its integrated capabilities within an effective model that improves upon the project management pitfalls of the past within our sector."

Cautionary Statement Regarding Forward-Looking Statements

Statements contained in this press release that are not historical fact may be forward-looking within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such forward-looking statements may relate to, among other things, the Company's expectations regarding the exchange offer and consent solicitation. Such forward-looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in our filings with the SEC, including those factors discussed under the caption "Risk Factors" in such filings.

You are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them and to the risk factors. The Company disclaims any obligation to update any forward-looking statements to reflect any new information or future events or circumstances or otherwise, except as required by law. You should read this communication in conjunction with other documents which the Company may file or furnish from time to time with the SEC.

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 6,000 employees, representing more than 60 nationalities in 16 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 reservoirs in a smarter and faster manner by providing Drilling and Evaluation Services such as Drilling Downhole Tools, Directional Drilling, Fishing Tools, Testing Services, Wireline, Slickline, Drilling Fluids and Rig Services.

For media inquiries, please contact:

Lubna Hamdan
National Energy Services Reunited Corp.
971502670225
lubna@nesr.com

For inquiries regarding NESR, or for investor queries, please contact:

Blake Gendron
National Energy Services Reunited Corp.
832-925-3777
investors@nesr.com

SOURCE: National Energy Services Reunited Corp

View the original press release on ACCESS Newswire

FAQ

What is the value and duration of the NESR and KDC Jordan campaign (NESR)?

The campaign is estimated at $200 million in value over four years.

How many wells are included in the NESR/KDC Jordan award (NESR)?

The award covers an 80-well campaign in Jordan.

What roles will NESR and KDC play in the Jordan campaign (NESR)?

KDC provides rigs and drilling execution; NESR supplies well construction services to reduce NPT.

When was the NESR and KDC campaign in Jordan announced (NESR)?

The announcement was made on October 8, 2025.

What is an example of prior work cited by NESR and KDC (NESR)?

The partners referenced recent integrated project successes in Oman and Jordan.

Does the NESR release mention turnkey wells delivered in the collaboration (NESR)?

Yes; the collaboration delivered an initial 10 lump sum turnkey (LSTK) wells.