CORRECTION FROM SOURCE: NESR & BECL Announce Inauguration of 'Carbon Light' Brine Plant in North Rumaila Field Iraq

This version was corrected from an earlier version due to a typo

RUMAILA FIELD, IRAQ / ACCESSWIRE / January 25, 2024 / National Energy Services Reunited Corp. ("NESR" or the "Company") an international, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, today announced the inauguration of its flagship ‘Carbon Light' oilfield brine plant in North Rumaila. The project and opening ceremony were conducted with BECL operating Rumaila Operating Organization ("ROO") in Iraq.

NESR undertook the investment in the ‘Carbon Light' brine plant as part of an existing, long-term brine supply agreement to support ROO operations in North Rumaila. Leveraging partner Clean TeQ's continuous ion filtration and high-recovery reverse osmosis ("RO") technology, the first such deployment globally in the upstream energy sector, NESR & ROO endeavor to re-envision the way that oilfield brine is manufactured, and also substantially reduce water waste and the carbon footprint associated with brine supply.

Whereas conventional brine production involves the mixing of salt from a mine and freshwater from a separate, third-party industrial RO plant, NESR's ‘Carbon Light' brine facility utilizes brackish groundwater proximal to the plant to directly generate the high-specification brine from a previously unusable water source. NESR estimates up to a 75% reduction carbon-equivalent ("CO2e") footprint versus the conventional brine production baseline, and up to a 90% reduction in water waste, by volume, versus the industrial RO source.

ORKHAN Guliyev GM ROO commented, "Water stewardship and carbon intensity reduction remain a key focus for us in Iraq and there is no better example of this innovation in action than with NESR's newly inaugurated brine facility in North Rumaila, to support our ROO operations. This unique technology has unlocked a new way of producing brine that vastly simplifies logistics, eliminates trucking, improves water use, and minimizes waste."

Sherif Foda, NESR CEO & Chairman remarked, "We are proud to collaborate with BECL to bring a new, low-carbon blueprint to oilfield brine production. Beyond the decarbonization associated with lower trucking & logistics, I am immensely proud of the positive impact that this plant brings to our overall water use, harnessing a previously unusable brackish water source for brine production through the use of cutting-edge technology, and thereby shielding industrial RO water for use elsewhere in agriculture and for community consumption. Amidst the backdrop of freshwater scarcity challenges across the region, we are extremely thankful to Iraq, under the leadership of His Excellency Hayyan Abdul Ghani, Minister of Oil, to enable the investment and install this flagship technology, thereby saving precious freshwater resources for others."

Cautionary Statement Regarding Forward Looking Statements

Statements contained in this press release that are not historical fact may be forward-looking within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may relate to, among other things, the Company's expectations related to its business performance, financial condition and results of operation. Such forward-looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties, including without limitation, the impact of the delayed SEC report filings on the Company's business, including its customers, suppliers, counterparties, and lenders, and the extent of any material weakness or significant deficiencies in the Company's internal control over financial reporting. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in our filings with the SEC, including those factors discussed under the caption "Risk Factors" in such filings.

About NESR

Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. With over 6,000 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.

For inquiries regarding NESR, please contact:

Blake Gendron - VP Investor Relations & Business Development
National Energy Services Reunited Corp.
832-925-3777
[email protected]

SOURCE: National Energy Services Reunited Corp.

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