NESR Partners with SCF Ventures’ Kinetic Pressure Control to Successfully Deploy Blowout Technology in the Middle East and Africa
Abu Dhabi, UAE – November 2021 – SCF Partners portfolio company National Energy Services Reunited Corp. (“NESR”) (NASDAQ:NESR) and SCF Ventures’ Kinetic Pressure Control (“KPC”) announced that they have successfully deployed KPC’s flagship product in the Middle East and Africa. The Kinetic Blowout Stopper (“K-BOS”) is a game-changing safety system that can shear anything (including tools strings, tool joints and BHAs) and seal instantly. It is the industry’s first blowout “stopper” (vs. the conventional “preventer”) and is as much an environmental and safety technology as it is a cost-improvement technology.
“As a shareholder and strategic partner, we are very pleased to announce this technological breakthrough for Kinetic Pressure Control, especially during this pivotal meeting of industry leaders at ADIPEC in Abu Dhabi, UAE,” said Sherif Foda, Chairman of the Board and Chief Executive Officer of NESR. “The successful deployment of K-BOS in the MENA region in addition to its existing deployment in Deepwater Gulf of Mexico and other Deepwater basins globally highlights the potential of our open technology platform, and also underscores the receptivity of our forward-thinking customers to collaboratively test and commercialize game-changing technology, especially in enhancing the safety and environmental stewardship of upstream operations.”
Sherif Foda continued, “We see the K-BOS as a true ESG technology, as it not only takes the probability of dangerous pressure events to nearly zero, but also due to its applicability in high H2S fields that are characteristic throughout MENA.”
“We are very excited about the partnership between NESR and KPC,” says Hossam Elbadawy, Managing Director of SCF Ventures. “It is a win-win situation for both companies, and a win for the industry to have this technology available. KPC is leveraging NESR’s footprint and customer relationship to expand into new markets, and NESR is able to offer its customers an innovative solution that increases the safety of operations.”
About Kinetic Pressure Control
Kinetic Pressure Control (“Kinetic”) is a leading well control technology company that designs, manufactures, and provides innovative wellhead and pressure control equipment and services. Kinetic’s mission is to protect the Oil and Gas industry’s social license to operate. Kinetic provides a solution that can stop a blowout and shut in a well no matter the established flow or size, type, or position of a given tubular across the blowout preventer. Kinetic’s flagship product, the K-BOS, is best described as “the airbag for the Oil & Gas Industry.” The K-BOS’ unique design, which harnesses the power of kinetic energy to shear through anything above the bit in the well and seal instantly, greatly limits the potential threat posed by blowouts. Customers can either retrofit existing subsea stacks with the K-BOS or add it to the stack as a failsafe for applications in high risk coiled tubing, drilling, workover, and snubbing operations.
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 5,000 employees, representing more than 60 nationalities in over 15 countries, the Company helps its customers unlock the full potential of their reservoirs by providing Production Services such as Hydraulic Fracturing, 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, Drilling Fluids and Rig Services.