The Saudi oilfield services provider National Energy Services Reunited Corp. (NESR) is targeting to increase the volume of its business in Egypt by 25% year on year (YoY) by the end of 2024, the firm’s Country Director Ayman Hamam told Al Arabiya Business.

The company will boost its business depending on the oil and gas exploration projects in various concession areas offered by the Egyptian Ministry of Petroleum and Mineral Resources, Hamam highlighted.

Furthermore, the firm is seeking to sign a new supply contract with Egypt’s Belayim Petroleum Company (PETROBEL) by the second half (H2) of the current year.

It is worth mentioning that the company’s current business volume in the Egyptian market has reached up to $90 million, while its investment costs range between $450 and $500 million since the acquisition of Sahara Petroleum Services (SAPESCO) back in 2020, Hamam noted.

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