HOUSTON, TX / ACCESSWIRE / December 2, 2019 / National Energy Services Reunited Corp. ("NESR" or the "Company") (NESR)(NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") and Asia Pacific, opened its second manufacturing facility in Oman under the auspices of Gulf Energy (SAOC). The casing accessories manufacturing facility will further localize manufacturing and enhance the In-Country Value (ICV) of the company. Located in Nizwa, Oman, the facility creates employment and training opportunities for locals residing outside urban areas. With this project, NESR becomes the first National company in the region to successfully manufacture casing accessories in Oman and export such products to neighboring countries.
His Excellency Salim bin Nasser Al Aufi, Under-Secretary of the Ministry of Oil and Gas commented: "I am pleased to see local companies, such as Gulf Energy, successfully setup manufacturing facilities to supply the market with locally manufactured products and equipment, a true translation of the In-Country-Value (ICV) strategy. This facility will create direct jobs for Omanis, and support to grow the oil and gas operation in the country while allowing more flexibility and efficiency in the supply chain."
Mr. Abdul-Amir Al Ajmi, External Affairs and Value Creation Director at PDO commented: "This plant further reinforces PDO's localization efforts and In-Country Value strategy, which aims to create jobs, training and learning opportunities for Omanis and enhance the domestic supply chain. It also underscores Gulf Energy's commitment to enhancing the value it brings to the Omani economy as it will provide efficiencies to PDO as well as improve equipment delivery and installation lead times."
"We are very proud to play a positive role in the economic development of Oman and the region and provide custom-made products to our customers" said Sherif Foda, Chairman of the Board and CEO of NESR. "Our manufacturing facility underscores NESR's commitment to enhancing our sustainability through generating local value everywhere we operate. Through direct investments in local economies, creating local employment and training opportunities, exporting locally-made products to the world, developing in-country expertise and utilizing local suppliers, we are increasing our local content - a cornerstone of our ESG strategy - and protecting our license to operate in MENA markets. We are committed to creating shared social and economic value everywhere we work and ensuring we build long term employment. I would like to thank the Ministry of Oil and Gas, PDO and all our customers in Oman for their support of Gulf Energy SAOC, an Omani National Champion, and we look forward to delivering top quality, locally manufactured products to the region."
About National Energy Services Reunited Corp.
Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. With over 4,000 employees, representing more than 40 nationalities in over 15 countries, the Company helps its customers unlock the full potential of their reservoirs by providing Production Services such as Cementing, Coiled Tubing, Filtration, Completions, Stimulation, Pumping and Nitrogen Services. The Company also helps its customers to access their reservoirs in a smarter and faster manner by providing Drilling and Evaluation Services such as Drilling Downhole Tools, Directional Drilling, Fishing Tools, Testing Services, Wireline, Slickline, Fluids and Rig Services.
This communication contains forward-looking statements (as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Any and all statements contained in this communication that are not statements of historical fact may be deemed forward-looking statements. Terms such as "may," "might," "would," "should," "could," "project," "estimate," "predict," "potential," "strategy," "anticipate," "attempt," "develop," "plan," "help," "believe," "continue," "intend," "expect," "future," and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. However, not all forward-looking statements may contain one or more of these identifying terms. Forward-looking statements in this communication may include, without limitation, statements regarding the benefits resulting from the Company's recent business combination transaction, the plans and objectives of management for future operations, projections of income or loss, earnings or loss per share, capital expenditures, dividends, capital structure or other financial items, the Company's future financial performance, expansion plans and opportunities, and the assumptions underlying or relating to any such statement.
The forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation: the ability to recognize the anticipated benefits of the Company's recent business combination transaction, which may be affected by, among other things, the price of oil, natural gas, natural gas liquids, competition, the Company's ability to integrate the businesses acquired and the ability of the combined business to grow and manage growth profitably; integration costs related to the Company's recent business combination; estimates of the Company's future revenue, expenses, capital requirements and the Company's need for financing; the risk of legal complaints and proceedings and government investigations; the Company's financial performance; success in retaining or recruiting, or changes required in, the Company's officers, key employees or directors; current and future government regulations; developments relating to the Company's competitors; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic and market conditions, political disturbances, war, terrorist acts, international currency fluctuations, business and/or competitive factors; and other risks and uncertainties set forth in the Company's most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission (the "SEC").
You are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them and to the risk factors. The Company disclaims any obligation to update the forward-looking statements contained in this communication to reflect any new information or future events or circumstances or otherwise, except as required by law. You should read this communication in conjunction with other documents which the Company may file or furnish from time to time with the SEC.
For inquiries regarding NESR, please contact:
Christopher Boone or Dhiraj Dudeja
National Energy Services Reunited Corp.
SOURCE: National Energy Services Reunited Corp.
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