Grünenfelder Saadi Holding Company (CGS), listed on the Saudi parallel market, announced the signing of a qualitative project contract to provide customized solutions with Aramco Nebrus Drilling Company (SANAD), in a move that enhances the company’s presence in the energy support services sector.
The company explained in an official statement published on the Saudi Stock Exchange (Tadawul) website that the total value of the contract is SAR 166.02 million, and it extends for a period of up to 24 months. This agreement reflects the growing confidence in the capabilities of national companies to meet the requirements of major projects in the oil and gas sector.
Contract details and operational scope
According to the announced details, the agreement includes CGS selling and maintaining field camp facilities for Aramco Nebras. These services are a cornerstone of onshore drilling operations, as remote sites require a comprehensive infrastructure to ensure business continuity and the well-being of technical and engineering teams working in harsh desert conditions.
The company expects the financial impact of this huge contract to begin to be reflected in its financial statements from the first quarter of 2026, indicating that this project will be an important source of revenue for the company in the medium term.
The importance of the partnership with Aramco Nebras
This contract gains its significance from the stature of the other party to the agreement; Aramco Nebros Drilling Company (Sanad) is a giant joint venture between the global oil giant Saudi Aramco and Nebros Industries. This partnership was established to manage and operate onshore drilling platforms in the Kingdom and plays a pivotal role in the Kingdom's strategy to maintain and develop its oil and gas production capacity.
Partnering with an entity of this size gives CGS a strong competitive advantage and underscores its commitment to the stringent quality and safety standards that Aramco and its partners impose on suppliers and service providers.
Context of the energy services sector in the Kingdom
This signing comes at a time when the energy services sector in Saudi Arabia is experiencing significant growth in line with Vision 2030, which aims to maximize local content (IKTVA) and localize supply chains. Logistics and field facilities management contracts are an integral part of the drilling and exploration ecosystem, as major companies strive to ensure a safe and stable working environment for their field employees.
This contract reflects the active economic movement in the Saudi market, where listed companies continue to seize investment opportunities resulting from the expansion of energy and infrastructure projects, which enhances the attractiveness of the Saudi financial market to local and international investors.
