Press

National Energy Services Reunited Corp. Signs an Agreement With Dhahran Techno Valley Company to Open a Research Center in Saudi Arabia

Posted by OilVoice Press - OilVoice

11-Sep-2018


The signing ceremony was held at the KFUPM's headquarters in Dhahran, Saudi Arabia

HOUSTON, United States of America, September 11, 2018/ -- National Energy Services Reunited Corp. ("NESR") (NASDAQ: NESR) (NASDAQ: NESRW) (www.NESR.com), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, through its subsidiary, National Oil Technology Company, today signed an agreement with Dhahran Techno Valley Company ("DTVC"), a wholly owned subsidiary of King Fahd University of Petroleum ("KFUPM"). The agreement calls for the creation of a global center for the development of scientific research in DTVC.

The agreement was signed by Prof. Dr. Sahel N. Abduljauwad, Acting Rector of King Fahd University of Petroleum and Minerals, and Chairman of the Board of Directors of Dhahran Techno Valley Company, and Sherif Foda, CEO and Chairman of NESR, in the presence of senior management of Saudi Aramco led by Dr. Mohammed Y. Al-Qahtani, Senior Vice President for Upstream, Saudi Aramco and Chairman of the DTVC Advisory Committee. The signing ceremony was held at the KFUPM's headquarters in Dhahran, Saudi Arabia.

Prof. Dr. Abduljauwad stated, "We are very proud to have NESR join Dhahran Techno Valley and I am very pleased to see this level of investment from NESR to promote scientific research and local content in the energy sector in Saudi Arabia. I am confident that NESR will add significant value to Dhahran Techno Valley and the Saudi oil and gas industry with this investment and commitment."

Prof. Dr. Abduljauwad added, "Dhahran Techno Valley brings together the largest number of national and international energy companies in one place and is now the largest of its kind in the world. Techno Valley provides the necessary infrastructure, services, and the appropriate climate to incubate the development of new technologies as part of the implementation of the Saudi Vision 2030. The Saudi Vision 2030 emphasizes the importance of strengthening the technology sector in general, and energy technologies in particular, in order to support the knowledge-based economy."

Dr. Qahtani stated, "We are very pleased to see NESR as the first company from this region investing at such a scale. I also believe that NESR's approach to create an open platform for innovative technology companies to come to the Kingdom is a unique approach and will be beneficial to the Saudi oil and gas industry. I look forward to seeing the results of their efforts and wish them the best for the future."

Sherif Foda commented, "We are very excited to partner with Techno Valley and KFUPM. We strongly believe that with this investment, we are taking an important step to develop fit-for-purpose techniques and technologies for Saudi Arabia as well as the whole region. This is a key milestone for NESR and we plan to also bring our technical partners from North America to this center, which will allow them to customize and develop technologies in Saudi Arabia for the local industry. This will also be a great opportunity to provide high-end technical opportunities for Saudi engineers and researchers and an important vehicle for partnership between the Saudi academic and industrial sectors."

Mr. Foda added, "I would like to take this opportunity to thank Prof. Dr. Abduljauwad and Dr. Qahtani and the management of Saudi Aramco, KFUPM and DTVC for their support and guidance in this endeavor."

Saudi ArabiaKingdom of Saudi ArabiaResearch CentreNESRNational Energy Services ReunitedNasdaq

More items from oilvoice


University of Aberdeen Media Release: Study Highlights Prospects for Long Term Economic Recovery From UK Continental Shelf (UKCS)

A new research study produced by Professor Alex Kemp and Linda Stephen from the University of Aberdeen highlights enhanced prospects for long-term activity from the UK Continental Shelf (UKCS) compared to previous studies, indicating that the ambitious targets in the OGA's Vision 2035 are achievab ...

OilVoice Press - OilVoice


Posted 36 minutes agoPress > UKCSUnited Kingdom Continental ShelfUnited Kingdom +4

Equinor: Rowan Stavanger to Drill for Gudrun

Rowan Norway Limited has been awarded a contract for drilling two wells at the Gudrun field by use of the Rowan Stavanger jack-up rig. The rig has furthermore been awarded five options for drilling of single wells.     The value of the fixed part of the contract is ...

OilVoice Press - OilVoice


Posted 2 hours agoPress > EquinorEquinor EnergyRowan Stavanger +5

NPD: Production Figures September 2018

Preliminary production figures for September 2018 show an average daily production of 1 607 000 barrels of oil, NGL and condensate, which is a decrease of 255 000 barrels per day compared to August. Total gas sales were 9.0 billion Sm 3 (GSm 3 ), which is a decrease of 1.2 GSM 3 from the previo ...

OilVoice Press - OilVoice


Posted 4 hours agoPress > NorwayNorwegian Petroleum DirectorateNPD

Wood Wins UK Nuclear New Build Contract

Hitachi Nuclear Energy Europe (HNE) has appointed Wood as architect engineering support partner to the Wylfa Newydd nuclear power plant project in the UK. Effective immediately, the appointment is expected to transition into a 10-year framework, extending up to the start of commercial operations, ...

OilVoice Press - OilVoice


Posted 4 hours agoPress > WoodUnited KingdomNuclear +3

Sentinel Marine Makes Further Fleet Investment With New Platform Supply Vessel

Offshore support vessel operator Sentinel Marine is adding to its state-of-the-art fleet with the purchase and major refit of a multi-role ship. The Aberdeen-based firm, which has just seen the eighth of nine new builds commence operations in the North Sea, expects that Scotian Sentinel will enter ...

OilVoice Press - OilVoice


Posted 4 hours agoPress > Offshoreplatformvessel +4
All posts from oilvoice