NESR Secures $200M Saudi Aramco Contract for Lithium Extraction Project

Key Facts

1NESR signed a $200 million contract with Saudi Aramco for a lithium extraction project.

NESR signed a $200 million contract with Saudi Aramco for a lithium extraction project in Saudi Arabia. Seeking Alpha reported that the five-year agreement covers the execution of the Kingdom's first lithium project, utilizing direct lithium extraction technologies.

The deal aligns with Saudi Arabia's broader strategy to diversify its economy and secure critical minerals essential for the global energy transition. NESR will deploy pre-treatment and direct extraction solutions to support the project, marking a significant milestone for the energy services firm in its partnership with the national oil giant.