Page 21 - MRDS PR REPORT - OCTOBER 2023

This strategic move has resulted in several major contracts with international drilling
contractors and national oil companies. With the aim of becoming the leading
aftermarket service provider for drilling equipment in Abu Dhabi, MRDS has also signed
a contract with Al Yaseah, who will serve as an agent to support the company’s growth
within Abu Dhabi specifically.

Ian McGillivray expressed his optimism, stating, "The MRDS Group is well-positioned to
seize the opportunities presented by the MENA region's oilfield services market, which
is projected to reach USD 41.73 billion in the next five years. We believe that the
ongoing development of the market offers a range of expansion possibilities that we
can capitalise on to deliver favourable results."

"Since opening our state-of-the-art facility in Dubai's Jebel Ali Free Zone in 2021, MRDS
Group has experienced significant growth in our customer base, allowing us to support
international clients across the UK, Middle East, West Africa, and Indonesia. With a
strong lineup of new agreements, the API Q2 accreditation, and our partnership with
the Energy Industries Council (EIC) as a gold sponsor, we are poised to further steer
growth in the MENA region's energy sector," he added.

MRDS Group has been collaborating with both international drilling contractors and
national oil companies in the UAE, demonstrating its commitment to strategic growth
in the region. The group offers a comprehensive portfolio of services for various
vessels, including drilling platforms, jack-ups, turbine installation vessels, semi-
submersibles, drill ships, and land-based rigs. With a senior management team offering
over 100 years of combined experience, MRDS Group leads a competent workforce of
skilled engineers and technicians specialising in mechanical, hydraulic, and electrical
work.

With field service technicians operating across the Middle East, support for special
periodic surveys (SPS), equipment recertification projects, equipment installation and
commissioning, as well as troubleshooting, MRDS is recognised as an industry leader,
both regionally and internationally. With a strong emphasis on quality, innovation, and
customer focus, MRDS Group is well-positioned to take advantage of the energy
potential in the region and expand its global reach. The group's pipeline of projects for
2023 and 2024 further promises a bright future, as it continues to exceed clients'
expectations at every turn.

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