HOUSTON, Texas –October 2018 – SCF Partners is pleased to announce that National Energy Services Reunited Corp. (“NESR”) (NASDAQ: NESR) (www.NESR.com), an industry-leading provider of integrated energy services in the Middle East and North Africa region, of which SCF Partners is an investor, has signed an agreement through its subsidiary, National Oil Technology Company, with Dhahran Techno Valley Company, a wholly owned subsidiary of King Fahd University of Petroleum.
The agreement calls for the creation of a global center for the development of scientific research in the Dhahran Techno Valley. The signing ceremony, included Sherif Foda, CEO and Chairman of NESR, in the presence of senior management of Saudi Aramco and was held at the KFUPM’s headquarters in Dhahran, Saudi Arabia.
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.”
In addition to its investment in NESR, SCF Partners also invests in new technology companies in the Oil & Gas industry through SCF Ventures. SCF Ventures is an early stage investment vehicle within SCF Partners, focused on new products and technologies in the energy service sector.
About National Energy Services Reunited Corp.
Founded in 2017, NESR (www.NESR.com) is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. With over 3,200 employees, representing more than 40 nationalities in over 14 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 and Fracturing, and Nitrogen Services. The Company also helps its customers to access the reservoirs in a smarter and faster manner by providing Drilling and Evaluation services like Drilling Downhole Tools, Directional Drilling Fishing Tools, Testing Services, Wireline, Slickline, Fluids and Rig Services.
National Energy Services Reunited Corp