Al Rasheed to supply NESR with silica sand for over SAR 1.1B

Logo of Mohammed Hadi Al Rasheed and Partners Co.

Mohammed Hadi Al Rasheed and Partners Co. signed today, Dec. 24, a contract with National Energy Services Reunited Corp. (NESR) to supply high-quality silica sand, a key component used in non-conventional gas extraction operations at the Jafurah field.

In a statement to Tadawul, the company said the value of the five-year supply deal exceeds SAR 1.1 billion.

The company expects the financial impact of the contract to reflect positively in its revenues, starting from Q1 2026 and throughout the duration of the agreement.

Al Rasheed added that the contract follows NESR’s announcement that it had secured a five-year project to complete non-conventional gas extraction services at the Jafurah field.

NESR provides oilfield services across the Middle East, North Africa, Asia, and the Pacific.

The company noted that this contract aligns with its strategy, and supports the growth and returns targeted under its strategic plan.

There are no related parties to the deal, the statement added.