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


For One Week in November, the U.S. Was a Net Exporter of Crude Oil and Petroleum Products

Source: U.S. Energy Information Administration, Weekly Petroleum Status Report During the week ending November 30, 2018, the United States exported more crude oil and petroleum products than it imported for the first time in weekly data going back to 1991. From November 24–30, the United S ...

OilVoice Press - OilVoice


Posted 2 hours agoOpinion > USAUnited StatesExporter +4

Australia: in Line With its Discipline on Capital Allocation, Total Reduces its Stake in Ichthys LNG by 4%

Total has signed an agreement to divest a 4% interest in the Ichthys liquefied natural gas (LNG) project in Australia to operating partner INPEX for an overall consideration of 1.6 billion USD. The transaction, which is subject to Australian regulatory approvals, reduces Total's interest in the ass ...

OilVoice Press - OilVoice


Posted 3 hours agoPress > TotalDivestmentAustralia +4

NPD: Dry Well and Minor Oil Discovery Southwest of the Vega Field in the North Sea – 35/10-4 S and 35/10-4 A

Equinor Energy AS, operator of production licence 630, has completed the drilling of wildcat wells 35/10-4 S and 35/10-4 A. The wells were drilled about ten kilometres southwest of the Vega field in the northern part of the North Sea. The primary exploration target for well 35/10-4 S was to prov ...

OilVoice Press - OilVoice


Posted 3 hours agoPress > NPDNorwegian Petroleum DirectorateNorway +10

EPA Finalizes Renewable Fuel Standard for 2019, Reflecting Cellulosic Biofuel Shortfalls

Source: U.S. Energy Information Administration, based on U.S. Environmental Protection Agency's Renewable Fuel Standard program On November 30, 2018, the U.S. Environmental Protection Agency (EPA) issued a final rule for the 2019 Renewable Fuel Standard (RFS) program , with the total U.S. ...

OilVoice Press - OilVoice


Posted 3 hours agoOpinion > EPAEIAEnergy Information Administration EIA +2

Brazil’s 2019 Bidding Round on Transfer of Rights Areas Expected to Generate an Exceptional Revenue for the Government, says GlobalData

Following discussions in Brazil's congress and government for agreeing on terms of the planned bidding round, Adrian Lara, Senior Oil and Gas Analyst at GlobalData , a leading data and analytics company, offers his view on the impact on the upstream sector: “The issue right now is to hav ...

OilVoice Press - OilVoice


Posted 3 hours agoOpinion > BrazilBidding RoundGlobalData +2
All posts from oilvoice