The decision to acquire Newsco was both symbolic and strategic in nature. We proudly marked a historic moment by becoming the first Saudi company to successfully execute a full acquisition of ownership in directional drilling technologies, securing its associated trademarks and intellectual properties.
This acquisition was more than a mere business transaction; this move represented a clear declaration of our global aspirations and competencies. It seamlessly aligns with our expansive technology roadmap.
Our forward-thinking vision has always been to amplify our drilling capabilities, and in Newsco – with its storied legacy and exclusive technological and service propositions – we found the perfect partner to fulfil this ambition.
Newsco stands out as a luminary in the North American landscape. The company is renowned for its expertise in global directional drilling and MWD [measurement while drilling] services. Its wide-ranging capabilities, which include comprehensive fabrication and maintenance programmes, state-of-the-art remote drilling systems and its own proprietary positive displacement mud motors, positioned it as an invaluable asset for us.
We’re currently engaging proactively with Saudi Aramco, focusing on the integration and application of this wholly Saudi-owned technology in Aramco’s well operations. This partnership not only reflects our commitment to innovation but also our dedication to fostering domestic technological growth and leadership