NESR Inaugurates Flagship Innovation Center NORI In Saudi Arabia’s Dharan Techno Valley

DHARAN TECHNO VALLEY, KINGDOM OF SAUDI ARABIA / ACCESSWIRE / February 27, 2023 / National Energy Services Reunited Corp. ("NESR" or "the Company") (NASDAQ:NESR)(NASDAQ:NESRW), an international, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, today announced the inauguration & opening of its NESR Oilfield Research & Innovation ("NORI") Center in Saudi Arabia's Dharan Techno Valley ("DTV").

The NORI facility, located in the heart of Saudi Arabia's industrial research, technology and academic hub, will enhance NESR's ability to drive energy sector research & innovation across the MENA region, while also augmenting the Company's alignment specifically with Saudi Arabia's Vision 2030. A flagship student exchange program with King Fahd University of Petroleum & Minerals ("KFUPM") will further support NESR's leading in-country personnel development & IKTVA investment. NORI also houses the recently acquired W. D. Von Gonten state-of-the-art Reservoir Characterization lab, supporting unmatched Geological & Geophysical research with a particular focus on the burgeoning unconventional resources in Saudi Arabia and across the MENA region. Furthermore, NORI will feature an artificial intelligence ("AI") based Operational Intelligence lab that will support multiple segments, including NESR's rapidly evolving hydraulic fracturing and directional drilling product lines. Key ESG Impact decarbonization technologies and research initiatives will also be domiciled in NORI.

NESR CEO & Chairman Sherif Foda commented, "With the ushering in of a new activity upcycle in the MENA region, NESR is proud to inaugurate a world class R&D center that will both deepen the NESR commitment to in-country investment in Saudi Arabia, and also strengthen key strategic initiatives across the entire region. NORI is now the nexus for NESR in connecting investment capital to human capital and cutting-edge technology development, and I am excited that ongoing and future R&D initiatives will now emanate from this state-of-the-art facility. NORI was constructed with NESR's long-term strategy in mind, namely that of technological expansion in both the core services business and also decarbonization solutions & partnerships in the ESG Impact segment. A facility equipped with solar power and water recycling capabilities further underscores NESR's commitment to a more sustainable O&G future. I would like to thank our esteemed customer, Saudi Aramco, as well as KFUPM, DTVHC and the Ministry of Energy for their overwhelming support and attendance of this inauguration event."

Mr. Nasir K. Al-Naimi, Aramco Executive Vice President of Upstream, commented "NESR's commitment to building a collaborative, open technology platform is powerful testament to its alignment with Saudi Vision 2030 and IKTVA. Thanks to this milestone, I have no doubt that NESR, in partnership with Saudi Aramco and KFUPM, will be able to scale new heights of technological innovation."

Dr. Muhammad Al-Saggaf, KFUPM President, commented "The NORI facility stands in a class of its own, and I look forward to seeing the many innovations that emerge over the coming decades. We see NESR as a rising leader in terms of the positive engagement that the O&G industry can have with younger generations of engineering graduates. Through NESR's commitment to the KFUPM Student Early Employment and Development Program, we hope to solidify our relationship with NESR and further strengthen our relationship by providing skilled graduates to join the job market."

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.

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For inquiries regarding NESR, please contact:

Blake Gendron - VP Investor Relations & Business Development
National Energy Services Reunited Corp.
832-925-3777
investors@nesr.com

SOURCE: National Energy Services Reunited Corp.