NESR Secures Multiple Downhole Drilling Awards Totaling $100 Million in Kuwait

Rhea-AI Summary

National Energy Services Reunited Corp. (NASDAQ:NESR) has secured multiple five-year downhole drilling contracts in Kuwait worth $100 million. The contracts cover various Drilling & Evaluation (D&E) segments, including Fishing & Remedial Services, Downhole Tools, Tubing & Casing Running, and other advanced drilling services.

These awards strengthen NESR's position in Kuwait, following their recent Slickline contract win. The company is making significant investments in the AIV Advanced Innovation Valley to enhance its service leadership position in Kuwait. NESR, founded in 2017, is a major oilfield services provider in the MENA and Asia Pacific regions, employing over 6,000 people across 16 countries.

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• None.

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• Significant investment requirements for AIV Advanced Innovation Valley
• High dependence on Middle East market conditions

Insights

Oil & Gas Industry Specialist

NESR secures $100M in drilling contracts in Kuwait, strengthening its Middle East presence and diversifying its service portfolio.

NESR has secured $100 million worth of five-year downhole drilling contracts in Kuwait, spanning multiple Drilling & Evaluation (D&E) segments including Fishing & Remedial Services, Downhole Tools, Tubing & Casing Running, and other advanced drilling services. These contracts represent meaningful revenue visibility for the company, averaging $20 million annually over the five-year period.

These awards strategically expand NESR's footprint in Kuwait, which is positioned as a growth market within the MENA region. The company is leveraging its established presence in Oman to extend its leadership in drilling services to Kuwait, indicating a successful geographic expansion strategy.

The announcement follows a recently secured Slickline contract in Kuwait, demonstrating NESR's deliberate service portfolio diversification. The company is also making significant investments in its AIV Advanced Innovation Valley in Kuwait, signaling a long-term commitment to the country and positioning itself as a preferred service provider.

With over 6,000 employees across 16 countries, NESR's growing presence in Kuwait reinforces its position as one of the largest national oilfield services providers in the MENA and Asia Pacific regions. The company's ability to secure multi-year contracts suggests strong client relationships and service quality recognition, providing revenue stability in a competitive market. These contract wins reflect the ongoing investment activity in Kuwait's oil and gas sector, despite global market fluctuations.

HOUSTON, TX / ACCESS Newswire / July 28, 2025 / 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 multiple, five-year downhole drilling contract awards in Kuwait, totaling US$100 million.

These incremental, multi-year awards span a number of Drilling & Evaluation ("D&E") segments, including Fishing & Remedial Services, Downhole Tools, Tubing & Casing Running, and scope for other advanced drilling services. These awards reflect continued NESR leadership in an important sector of drilling services, extended from the Company's strong position in Oman, and in a Kuwait market that remains a bastion for robust activity growth within the MENA region.

NESR CEO & Chairman Sherif Foda commented, "These awards further cement our position in Kuwait, following our recently announced contract win in Slickline, and support our advancement across a broad swath of services within D&E. We sincerely thank our dear clients for their trust in our capabilities, support of our healthy investment in people and innovation in the country, especially with the significant investment we are undertaking for the AIV Advanced Innovation Valley to enhance our position as one of the preferred service leaders in Kuwait."

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, including that NESR will be able to complete the exchange offer and consent solicitation. 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 of NESR's new drilling contracts in Kuwait?

NESR has secured multiple five-year downhole drilling contracts in Kuwait totaling $100 million.

What services are included in NESR's new Kuwait contracts?

The contracts include Fishing & Remedial Services, Downhole Tools, Tubing & Casing Running, and other advanced drilling services in the Drilling & Evaluation (D&E) segments.

How many countries does NESR operate in as of 2025?

NESR operates in 16 countries with over 6,000 employees representing more than 60 nationalities.

What is NESR's investment strategy in Kuwait?

NESR is making significant investments in the AIV Advanced Innovation Valley to enhance its position as one of the preferred service leaders in Kuwait.

When was NESR founded?

NESR was founded in 2017 and has grown to become one of the largest national oilfield services providers in the MENA and Asia Pacific regions.