Newpark Resources, Inc. announced that the Company's Fluids Systems operating segment and Industrialization and Energy Services Company ("TAQA"), based in Dhahran, Saudi Arabia, have entered into a non-binding preliminary Memorandum of Understanding ("MOU"). Through this MOU, both companies intend to establish a joint venture company providing oilfield chemicals and other high performance related products and services including, as the core business, drilling and reservoir (completion) fluids, industrial minerals, and related services in the Kingdom of Saudi Arabia with further potential future expansion into other strategic territories. Newpark will provide technical and other support to the joint venture, with a mandate to increase specialty chemicals research and development as well as manufacturing capabilities in Saudi Arabia, leveraging TAQA's existing product and service footprint.