National Energy Services Reunited Corp. (NESR), a national provider of integrated energy services in the Middle East and North Africa and Asia Pacific, on Oct. 1 reported multiple awards in North Africa valued up to $100 million. The awards are for well intervention services for a period of up to three years.
“These awards allow us to further diversify our customer base in this fast-growing region and are a testament to our growing ability in the region,” Sherif Foda, chairman of the board and CEO of NESR, said. “These well intervention contracts also allow us to deploy newer technologies that reduce our overall footprint at the wellsite and lead to more efficient and safer operations. I would also like to take this opportunity to thank our new customers in North Africa for their trust in our abilities and I look forward to a successful long-term partnership.”
George Solich’s FourPoint will join forces with Double Eagle to form DoublePoint with more than 70,000 acres in the core of the Midland Basin.
For years, the hinterlands of the Permian Basin have suffered, yet E&Ps in the Delaware and Midland basins are returning to the periphery of the play, and many of them have something to prove—or at least prove up.
Egypt expects investments of at least $750 million to $800 million in the first stage of exploration in the 12 concessions, Petroleum Minister Tarek El Molla said during a press conference.