Page 17 - MRDS PR REPORT - OCTOBER 2023

10/5/23, 5:14 PM MRDS Group on track for strong year-over-year growth in 2023 Q4

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. Image courtesy: MRDS Group
MRDS Group on track for strong year-over-year growth in

2023 Q4

Owing to MENA’s expanding oilfield services market
Press Release

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.

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

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