Gulf Energy wins $100mln contract extensions in Oman

Gulf Energy wins $100mln contract extensions in Oman

Muscat – National Energy Services Reunited (NESR), an international leading provider of integrated energy services in the Middle East and North Africa, announced that its Oman-based subsidiary, Gulf Energy, has successfully completed negotiations with multiple clients in the sultanate to extend existing well intervention contracts for up to five years.

The multiple contract extensions secured in Oman amounts to US$100mn, NESR said in a statement.

The company said based on Gulf Energy’s excellent service delivery and new technology introductions across various fields, the new contracts range in duration for different clients and reflect the strong mutual trust with the client base in an improving oilfield services landscape.

NESR CEO and chairman Sherif Foda said, “The success of Gulf Energy in its In-Country Value and Omanisation initiatives clearly reflects NESR’s broader localisation ambition as national champion of the MENA region. Our foremost goal is to hire and train Omanis, and cultivate Omani R&D and manufacturing to support our operations.”

Foda said, “These key contract extensions underscore the value that Gulf Energy has been delivering through both unmatched service execution and also technology implementation with a focus on operational decarbonisation. I sincerely thank our esteemed customers in for their support of Gulf Energy, which remains a