Kuwait Drilling Co. and NESR awarded $200 million Contract in Jordan

National Energy Services Reunited Corp. (NESR) an international, industry-leading provider of integrated energy services in the Middle East and North Africa (“MENA”) region, announced that, in close collaboration with NESR, Kuwait Drilling Company (“KDC”) has secured a campaign award for integrated drilling services and well delivery in Jordan, with estimated $200 million in value over four years.

The eighty (80) well campaign in Jordan builds upon ongoing cooperation between KDC and NESR across several countries, in which the collaboration has employed an innovative business model to deliver cost-effective, high-performance wells by combining best-in-class operational practices and techniques. In this collaboration, KDC provides the rigs and associated drilling services, including mobilization, rig operation, maintenance, logistics, and on-site safety management. KDC’s role encompasses the end-to-end drilling execution and coordination with third-party providers, ensuring efficient rig utilization and operational continuity, while NESR deploys services in the well construction scope with a selection of highly complementary services, effectively minimizing waste and non-productive time (“NPT”) across the entire project lifecycle.

Kuwait Drilling Company Chairman, Dr. Abdulazeez Al-Rashed commented, “We are very proud of this award as it establishes the company to lead such integrated projects in Jordan and neighbouring countries. Following the initial campaign, we have demonstrated efficiency and fit for purpose set-up with NESR as our partner to deliver ten (10) lump sum turnkey (“LSTK”) wells. Our aim is to continue building on the success and relationship to have a solid offering to all our clients in the region.”

NESR CEO & Chairman Sherif Foda commented, “This award represents strong continuation of our extremely fruitful collaboration with KDC on similar, integrated well delivery projects across the region. Alongside KDC, recent successes in Oman and Jordan have established our solid track record in the integrated services space, and in our view represent an optimal integrated model that avoids unnecessary balance sheet waste, standby charges or subsurface risk. This campaign in Jordan reflects KDC’s and NESR’s ability to leverage its integrated capabilities within an effective model that improves upon the project management pitfalls of the past within our sector.”