Page 15 - 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

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.

MRDS Group experienced a remarkable 50 per cent growth in 2022 compared to the
previous year, and has successfully secured new contracts and accreditation
achievements, solidifying its position as a trusted service provider in the global energy
market. Additionally, investments in upstream operations aimed at maximising
production capacity and profitability in the current high-price environment are expected
to further propel the market during the forecast period.

With a dedicated team based in Jebel Ali, MRDS Group has been actively supporting
international clients in the UK, Middle East, West Africa, Indonesia, and Malaysia.

https://www.businesstoday.me/news/mrds-group-on-track-for-strong-year-over-year-growth-in-2023-
q4-owing-to-menas-expanding-oilfield-services-market/