NESR wins $100 million drilling contracts in Kuwait

National Energy Services Reunited Corp. (NASDAQ: NESR) announced it secured multiple five-year downhole drilling contract awards in Kuwait totaling $100 million, according to a company statement.

The contracts cover several drilling and evaluation segments, including fishing and remedial services, downhole tools, tubing and casing running, and other drilling services. The Houston-based company provides integrated energy services in the Middle East and North Africa region.

"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," said CEO and Chairman Sherif Foda.

The company said the awards build on its position in Oman and represent expansion in Kuwait's drilling services market. NESR operates in 16 countries with over 6,000 employees and was founded in 2017.

The contracts add to NESR's recent slickline contract win in Kuwait, extending the company's service offerings in the country's energy sector.

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