Page 24 - MRDS PR REPORT - OCTOBER 2023

10/5/23, 5:15 PM MRDS Group on track for strong year

MRDS Group on track for strong year-over-year

growth in 2023

By Middle East News 247 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
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. Notably, the company recently
obtained the prestigious American Petroleum Institute (API) Q2 Accreditation, demonstrating its

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