Saudi Aramco Awards NESR $660 MM Contract

Saudi Aramco Awards NESR $660 MM Contract

National Energy Services Reunited Corporation (NESR) announced that it has been awarded a number of contracts in Saudi Arabia worth a combined $660 million.

The contracts awarded by Saudi Aramco to the National Petroleum Technology Company, a subsidiary of NESR, involve coiled tubing, stimulation, and cementing services for five years, with a possible extension of up to two years.

“NESR is a key partner for Saudi Aramco… We would like to see local high-caliber firms from Saudi Arabia that have proven their ability to handle complex projects to step up and take a larger role to help achieve Saudi Aramco’s in-Kingdom total value-added program (IKTVA) goals,” said Mohammed Al-Qahtani, Senior Vice President for Upstream at Saudi Aramco.

The Saudi Aramco IKTVA program aims to increase the company’s locally sourced goods and services to 70% by 2021 and contribute to the Saudi Vision 2030.


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