Gradiant Energy Services Announces Entering into MOU with NESR for the MENA Region
Gradiant Energy Services (“GES”), a leading service provider for produced and flow-back water treatment and recycling solutions, introduced on January 25, 2020 that it has entered into a Memorandum of Understanding (“MOU”) with one of the of the largest oilfield services provider in the Middle East, North Africa (MENA) and Asia, National Energy Services Reunited Corp. (NESR) (NASDAQ: NESR).
The MOU sets forth the terms and understanding between both organizations to deploy GES’ technologies and tools in the MENA region where NESR operates. Both corporations are set to join efforts to bring GES unique water technical solution capabilities leveraging NESR’s robust operational reputation, footprint and resources in the Middle East and Asia.
“GES is considered as the company of preference for unique and difficult water challenges. Our track record throughout the space is the result of our deep knowledge around water solutions,” stated Danny Jimenez, Chairman and CEO of Gradiant Energy Services. “Middle East Oil and Gas operators have learned about the value we carry to customers in places like the Permian and over the previous year or so, we have received direct inbound requests from relevant operators in that vicinity to provide them with our technical solutions. When we explored approaches to enter the market, we found NESR’s presence and strong recognition in the area to be a unique combination for a partnership.”
Sherif Foda, CEO and Chairman of the Board of NESR commented: “We trust that sustainable water strategies and maintaining freshwater resources want to be front and center in the execution of the extensive unconventional and conventional gas programs in the region. Water conservation, in every area we operate in, is an essential pillar of NESR’s overall ESG strategy. NESR is taking the lead in introducing technologies and know how, to assist our customers proceed to produce in an environmentally sustainable manner from these reservoirs. We have been searching very closely into this space for quite some time and after evaluating the broad spectrum of methodologies and technologies available, we decided to partner with GES because of their deep knowledge in operation and research. GES will assist NESR grant consumers with specific and differentiated technical water treatment solutions so our consumers can achieve their production desires in an environmentally responsible manner.”