Page 12 - MRDS PR REPORT - OCTOBER 2023

MRDS Group on track for strong year-over-

year growth in 2023 Q4, owing to MENA’s

expanding oilfield services market

Kasun Illankoon October 4, 2023

MRDS Group, a leading project management, inspection, repair, and overhaul
services provider for oilfield drilling and marine equipment, is on track to

experience significant year-on-year growth in the Middle East and North Africa
(MENA) energy sector in Q4 of 2023 and into 2024. This projection is driven
by the rapid expansion of MENA’s oilfield services market, estimated to reach
USD 31.69 billion by the end of 2023, with further growth expectations of
reaching USD 41.73 billion in the next five years. These findings are
highlighted in the recent Mordor Intelligence report.

https://www.cbnme.com/news/mrds-group-on-track-for-strong-year-over-year-growth-in-2023-q4-
owing-to-menas-expanding-oilfield-services-
market/#:~:text=MRDS%20Group%2C%20a%20leading%20project%20management%2C%20inspection%
2C%20repair%2C,sector%20in%20Q4%20of%202023%20and%20into%202024.