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Announcement by Mohammed Hadi Al-Rasheed & Partners Company Regarding the Signing of a High-Quality Silica Sand Supply Contract with National Petroleum Technology Company (NESR)
| Element List | Explanation |
|---|---|
| Introduction | Mohammed Hadi Al-Rasheed & Partners Company announces the signing of a contract with National Petroleum Technology Company (NESR) for the supply of high-quality silica sand, which is a key component in unconventional gas extraction operations at the Jafurah Field. This contract follows NESR’s announcement, as a leading provider of oilfield services in the Middle East, North Africa, Asia, and the Pacific region, of being awarded a five-year contract to continue providing unconventional gas extraction services at the Jafurah Field. The signing of this contract represents a significant milestone that reflects the Company’s leading position in the Saudi mining sector. The contract extends for a period of five (5) years with National Petroleum Technology Company (NESR). The signing of this contract aligns with the Company’s strategy and is expected to contribute to achieving the growth and returns targeted under its strategic objectives. |
| Date of Announcement of the Award | 2025-12-24 Corresponding to 1447-07-04 |
| Contract Subject Matter | Signing of a High-Quality Silica Sand Supply Contract with National Petroleum Technology Company (NESR) for a Period of Five (5) Years. |
| The Entity with Which the Contract was Signed | National Petroleum Technology Company (NESR) |
| Date of Signing the Contract | 2025-12-24 Corresponding to 1447-07-04 |
| Contract Value | The total value of the supplies exceeds SAR 1.1 billion. |
| Contract Details | The Company will supply high-quality silica sand to National Petroleum Technology Company (NESR) for a period of five (5) years. |
| Contract Duration | Five (5) years |
| Financial Impact and the Relevant Period | The contract is expected to have a positive impact on the Company’s revenues starting from the first quarter of 2026 and throughout the contract duration. |
| Related Parties | None |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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