AEC Bolsters Kuwait's Oil Production Ambitions with Record Backlog
Action Energy Company KSCP (AEC), a leading energy services provider in Kuwait, has reaffirmed its commitment to supporting the country's long-term oil production objectives. Speaking with Bloomberg TV and CNBC, Rawaf Bourisli, Vice Chairman of AEC, highlighted the national oil companies' exceptional capability in navigating ongoing regional challenges.
The company is confident that it can help Kuwait achieve its ambitious target of increasing oil production capacity to four million barrels per day by 2035. To this end, AEC's contracted backlog has reached a record level of approximately $1.1 billion, providing strong revenue visibility over the coming years.
About 39 percent of the backlog comprises integrated, high-value oilfield services, which are expected to become an increasingly significant contributor to the company's financial performance during the second half of 2026 and into early 2027. Bourisli noted that this reflects a healthy balance sheet and a commitment to delivering sustainable shareholder value.
AEC is also expanding its international presence through joint ventures, with its first partnership with Kellton set to deploy artificial intelligence solutions for well control digitalization and real-time monitoring in the region. The company aims to help energy operators across the Gulf Cooperation Council (GCC) modernize their operations and maximize the value of their assets.