WEATHERFORD RECEIVES AWARD FROM PETROLEUM DEVELOPMENT OMAN TO PROVIDE INTEGRATED DRILLING SERVICES

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HOUSTON, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) received a five-year contract exceeding $500 million from Petroleum Development Oman (“PDO”) to deliver Integrated Drilling Services in the Marmul and Grater Saqar fields. Operations are targeted to begin in the fourth quarter of 2022.

This award builds on ongoing collaborations with PDO, where Weatherford will deliver 700+ wells in the Marmul and Grater Saqar fields in the next years to come and further enhances commitment towards Oman’s energy future. Weatherford Integrated Drilling Services will combine a suite of technologies to deliver holistic and innovative solutions that maximize drilling efficiency in PDO’s Marmul and Grater Saqar Fields. This project is an integral part of Weatherford Oman’s In Country Value strategy and also in line with Oman’s Vision 2040 to deliver safe and sustainable energy for the future.

Weatherford President and Chief Executive Officer Girish K. Saligram commented, “Our Integrated Services offering is gaining significant traction in the market. This award builds on our long and proven history of delivering technology leadership and innovation and is a testament to the competitiveness of our portfolio. We are looking forward to further strengthening our relationship with PDO as we support their operations in this critical project. Our service quality, value proposition, and local content positioned Weatherford as the clear partner of choice and will enable safe drilling operations that maximize efficiency while delivering value and reducing carbon emissions.”