Saudi Aramco Awards Multi-Billion Dollar Unconventional Contract to NESR

Rhea-AI Summary

National Energy Services Reunited Corp (Nasdaq:NESR) announced it won a multi-billion dollar contract from Saudi Aramco to provide completion services in Jafurah and other unconventional plays in the Kingdom over a five-year term (October 29, 2025).

The scope includes a significant mobilization of completion services and is expected to support higher drilling and completion activity to advance unconventional gas development aligned with Vision 2030. NESR cited prior Jafurah operations since 2019 and emphasized technology-driven efficiency and integrated frac capabilities. The release includes a standard forward-looking caution referencing the company's SEC filings.

Company scale: ~6,000 employees across 16 countries.

Positive

• Awarded a multi-billion-dollar, five-year completion contract
• Scope supports increased drilling and completion activity
• Builds on NESR operations in Jafurah since 2019
• Highlights integrated frac and completion capabilities

Negative

• Press release does not disclose the contract's exact monetary value
• Outcomes are forward-looking and subject to risks in SEC filings

Insights

Energy services commercial strategist

NESR won a multi‑billion, five‑year completion services contract with Saudi Aramco for Jafurah and other unconventional plays.

The award secures a large, multi‑year revenue stream for NESR tied to completion and mobilization work across unconventional gas projects. The contract covers intensive deployment of completion services and a broad scope of work that could raise drilling and completion activity above current levels during the five‑year term. The announcement states NESR has prior operations in Jafurah since 2019, which supports continuity of execution.

Key dependencies and risks include the scale and timing of mobilization, actual activity cadence and scope definition, and performance against Aramco operational standards. The release contains forward‑looking language and caveats about risks and uncertainties; outcomes will depend on contract schedules, operational delivery, and any undisclosed commercial terms.

Concrete items to watch over the next 6–24 months include the pace of field mobilization, reported revenue recognition tied to the contract, any disclosed multi‑billion value or milestone payments, and stated changes in drilling/completion activity levels. Monitor company filings and subsequent operational updates for quantifiable figures and schedule details within that timeframe.

RIYADH, SA / ACCESS Newswire / October 29, 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 its winning position as part of Aramco's tender for completion services in Jafurah and other Unconventional plays within the Kingdom over a five-year term.

The contract involves a significant mobilization of completion services and a broad scope-of-work, which is expected to support the next phase of growth of unconventional gas development, as part of the Kingdom's ambitious Vision 2030 plan of energy diversification. Over the course of the Unconventional contract, drilling and completion activity may trend higher than current activity levels, in support of the project scale and production targets.

NESR CEO & Chairman Sherif Foda commented, "The Jafurah development is a significant project through which the Kingdom has contributed to improving the blueprint for successful unconventional resources development worldwide, in every aspect from the start to today. In developing a data-informed approach across both exploration and development, and the factory drilling and completion of wells, Aramco has demonstrated advanced optimization. NESR initiated operations in Jafurah back in 2019, with the initial, large-scale deployment of our frac capabilities, which contributed to improvement in stage delivery and continuous record-setting results. Today, our efficiency remains competitive even with the best of US shale operations, supported in part by our agile adoption of new technologies and processes. We are extremely proud of our partnership with Aramco and look forward to enhancing our competitive integrated frac operations. I am proud to call Jafurah a cornerstone achievement for NESR, an award upon which we will continue to build the company and give back to the Saudi energy ecosystem, its people, and our communities."

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 did NESR announce on October 29, 2025 regarding Aramco and Jafurah (NESR)?

NESR said it won a multi-billion-dollar Aramco contract to provide completion services in Jafurah and other unconventional plays over a five-year term.

How long is the Aramco unconventional contract awarded to NESR (Nasdaq:NESR)?

The contract term described in the announcement is five years.

Will the NESR-Aramco contract increase drilling and completion activity (NESR)?

The release states drilling and completion activity may trend higher than current levels to support the project scale and production targets.

How does the NESR contract relate to Saudi Vision 2030 (NESR)?

NESR said the contract supports unconventional gas development aligned with the Kingdom's Vision 2030 energy diversification goals.

Does the NESR press release disclose the exact contract value (NESR)?

No; the announcement describes the award as multi-billion dollar but does not provide a specific monetary amount.

Where can investors contact NESR for more information after the October 29, 2025 announcement (NESR)?

Investor inquiries can be directed to the company contact listed in the release: investors@nesr.com and phone 832-925-3777.