Action Energy Sees Strong Growth Amid Record Backlog and Market Fundamentals
Action Energy, a leading Kuwaiti integrated upstream services provider and owner of one of the region's youngest drilling fleets, has reported strong market fundamentals and a record backlog underpinning its growth. The company has emphasized the Gulf's critical role in global energy security, with Kuwait aiming to increase crude oil production capacity to 4.0 million barrels per day by 2035.
Action Energy's Vice Chairman, Eng Rawaf Bourisli, stated that the company has grown significantly since its inception, operating four rigs to twenty at full utilization while building a modern fleet and delivering strong revenue growth, expanding margins, doubling net profit, and reducing leverage. The company's contracted backlog of KD 349 million provides long-term visibility over future revenue.
Action Energy's next phase of growth is built on three strategic pillars: reinforcing its leadership in Kuwait, expanding and diversifying oilfield services offering, and pursuing selective expansion across GCC markets while evaluating merger and acquisition opportunities to capture the expected growth in drilling demand through 2030.