National Energy Services part of multi-billion dollar contract award from Saudi Aramco

[Oil field site, in the evening, oil pumps are running, The oil pump and the beautiful sunset reflected in the water]
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National Energy Services Reunited (NESR [https://seekingalpha.com/symbol/NESR]) +8.6% pre-market Wednesday after announcing its winning position [https://seekingalpha.com/pr/20284001-saudi-aramco-awards-multi-billion-dollar-unconventional-contract-to-nesr] as part of Saudi Aramco's tender for completion services in Jafurah and other unconventional plays over a five-year term.

NESR (NESR [https://seekingalpha.com/symbol/NESR]) said the contract involves a significant mobilization of completion services and a broad scope-of-work, which is expected to support the next phase of growth of unconventional gas development as part of Saudi Arabia's Vision 2030 plan of energy diversification.

Over the course of the contract, drilling and completion activity may trend higher than current activity levels, in support of the project scale and production targets, the company said.

"The Jafurah development is a significant project through which the Kingdom has contributed to improving the blueprint for successful unconventional resources development worldwide," NESR (NESR [https://seekingalpha.com/symbol/NESR]) Chairman and CEO Sherif Foda said. "I am proud to call Jafurah a cornerstone achievement for NESR, an award upon which we will continue to build the company."

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