Action Energy

What Action Energy does

Action Energy Company K.S.C.P. (AEC) is a Kuwaiti onshore drilling and oilfield services provider founded in 2015 and listed on Boursa Kuwait's Premier Market under the ticker ALFTAQA since December 2025. The company operates a modern fleet of 20 drilling and workover rigs ranging from 550 HP to 3,000 HP, totaling 20,600 HP, with an additional seven rigs contracted and under manufacture that will expand the fleet to 27. AEC's service portfolio spans four business categories: Drilling and Workover Services, Upstream Oilfield Services (including Slickline, ESP, OTSG, Coiled Tubing, Directional Drilling, Wireline, Cementing, Mud Engineering, Mud Logging, Well Completion, and Tubular Inspection), Manpower Services, and a Workshop for equipment engineering, repair, and refurbishment. Inspection services are delivered in-house through a 60%-owned subsidiary, Target NDT. The technology stack is physical-asset-heavy, augmented by strategic joint ventures with global oilfield services leaders (KCA Deutag, CPVEN, COSL, Jereh, Kerui, NaftoServ, Expert Optima, TRG, Helmerich and Payne) that provide capabilities AEC does not develop independently. The fleet's average rig age of 2.07 years compares favorably to the Kuwait market average of approximately 15.9 years, supporting the company's reported 0.01 Lost Time Incident Rate, sub-1% non-productive time, 100% rig utilization, and 51% FY2025 EBITDA margin.

AEC's business model centers on long-term, multi-year fixed-rate enterprise contracts (averaging approximately 5 years remaining duration) with Kuwait Oil Company (KOC), which anchors substantially the majority of its revenue. Virtually all backlog is KWD-denominated, eliminating foreign exchange risk on the revenue side. As of December 2025, total contracted backlog stood at KWD 321.5M (approximately USD 1.05B), of which 72% (KWD 229.9M) is drilling services and 28% (KWD 91.6M) is oilfield services — up from KWD 63.3M in 2020. FY2025 revenue reached KWD 31.9M (approximately USD 104M), up 53% YoY from KWD 20.8M in FY2024, with Q1 2026 revenue of KWD 9.1M (up 69.2% YoY) reflecting fleet ramp from 13 to 20 rigs. AEC employs 1,700+ professionals across 25 nationalities, with approximately 70% in technical roles. Operations are currently single-country (Kuwait), with explicit plans to evaluate GCC expansion post-listing. The December 2025 IPO raised KD 55M (USD 179M) by selling 45.9% of shares and was oversubscribed by more than 5x, while a May 2026 credit facility of KWD 40.9M from two Kuwaiti banks funds the contracted fleet expansion to 27 rigs.

Name

Action Energy

Legal name

Action Energy Company K.S.C.P.

Website

https://actionenergykw.com

Company type

Public

Founded year

2015

Operating status

Ipo

Headcount range

1,001–5,000 employees

Short description

Action Energy Company K.S.C.P. is a Kuwaiti onshore drilling and oilfield services provider serving primarily Kuwait Oil Company under long-term fixed-rate contracts, operating a 20-rig modern fleet with plans to expand to 27 rigs and diversify across the GCC.

Ownership category

akta.pro rank

Product category

Upstream Drilling and Oilfield Services

NAICS

Support Activities for Mining (2131)

SIC

Oil & Gas Field Services, Nec (1389), Oil & Gas Field Machinery & Equipment (3533)

akta.pro industry

PRIMARYEUALABAH

Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals)

Energy, Utilities & Environment/Oil & Gas (Upstream, Midstream, Downstream and Refining)/Oilfield Services & Drilling (OFS)

Keywords

• Onshore drilling services
• Oilfield services
• Workover operations
• Drilling rig fleet
• Upstream energy services

Headquarters

HQ city

Safat

HQ country

Kuwait

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales, Technology or R&D

Revenue model

1. Drilling & Workover Services: Long-term fixed-rate contracts (average ~5 years remaining) for onshore drilling and workover rigs deployed with Kuwait Oil Company; majority of FY2025 backlog (72%) tied to drilling services (KWD 229.9 million of KWD 321.5 million total backlog).
2. Oilfield Services: Well lifecycle support services including ESP, Slickline, OTSG, Coiled Tubing, Directional Drilling, Wireline, Cementing, Mud Engineering and Inspection, delivered via in-house capability plus strategic JVs; represented ~28% of backlog as of December 2025 (KWD 91.6 million).
3. Workshop services: Engineering, repair and refurbishment of well control equipment, drilling equipment and skid manufacturing; procurement, design, operations, inspection and testing.
4. Manpower services: Provision of oil & gas manpower solutions for Drilling, Workover, Maintenance, and Well Services Operations, backed by a candidate database and market relationships.

Pricing tiers

Go-to-market motion4 records

Distribution channels2 records

Marketing channels6 records

Core offering

Action Energy Company K.S.C.P. (AEC) is a Kuwaiti onshore drilling and oilfield services contractor operating a modern fleet of 20 drilling and workover rigs (550HP–3,000HP, total 20,600 HP) deployed under multi-year fixed-rate contracts with Kuwait Oil Company (KOC). Its offering spans drilling and workover services plus a full suite of upstream oilfield services including slickline, electric submersible pumps (ESP), once-through steam generators (OTSG), coiled tubing, well cementing, drilling fluids, wireline logging, well completion, mud logging and directional drilling, supported by an in-house workshop and manpower services and delivered in part through joint ventures with global partners such as KCA Deutag, CPVEN, COSL, NaftoServ, Jereh, Kerui, TRG and Expert Optima.

Product overview

Action Energy Company K.S.C.P. (AEC) is a Kuwaiti-owned, Kuwait-headquartered upstream oilfield services provider founded in 2015 and listed on Boursa Kuwait Premier Market (ticker ALFTAQA) since December 2025. Its offering is a service portfolio organized into four business categories — Drilling & Workover Services, Upstream Services, Manpower Services, and Workshop — rather than a single unified software product. The core platform is the onshore Drilling & Workover fleet (20 rigs, 20,600 HP total capacity, ranging 550–3,000 HP), delivered alongside a broad upstream services stack that includes Slickline Services, Electric Submersible Pumps (ESPs), Once-Through Steam Generators (OTSG), Tubular Inspection Services (delivered via 60%-owned subsidiary Target NDT), Coiled Tubing, Well Cementing & Laboratory, Drilling Fluids, Wireline Logging, Well Completion, Mud Logging Services, and Directional Drilling. These modules are supported by dedicated Manpower Services and a Workshop for equipment engineering, repair, refurbishment, and skid manufacturing. AEC's two operating segments — Drilling and Workover Services, and Oilfield Services — together address the full upstream well lifecycle, in some cases delivered through joint ventures and strategic partnerships with KCA Deutag, TRG, CPVEN, COSL, Expert Optima, NaftoServ, Jereh, and Kerui.

Differentiator

Problem solved

Functional benefit

Products and services

• Drilling & Workover Services Full-scope onshore drilling and workover services covering well planning, rig mobilisation, drilling execution and completion support, delivered with a fleet of drilling rigs ranging from 750 HP to 3,000 HP for shallow, medium and deep wells. Customers are primarily national oil companies; revenue is earned under multi-year fixed-rate enterprise contracts with Kuwait Oil Company.
• Slickline Services Slickline and Digital Slickline well intervention and reservoir evaluation services that lower equipment or measuring devices into wells, supporting production target maintenance across the well lifecycle for oil and gas operators.
• Once-Through Steam Generators (OTSG) Services Servicing of once-through steam generators for heavy-oil applications including SAGD, cyclic steam stimulation (CSS) and other thermal enhanced-oil-recovery projects, including water-treatment strategies, precision chemistry control, inspections, cleaning and burner optimisation.
• Electric Submersible Pumps (ESP) Services Full lifecycle ESP services for oil production operations, including precision installation and start-up, real-time performance monitoring, predictive maintenance, motor and seal inspections, cable integrity checks, downhole sensor calibration, and full teardown and rebuild.
• Coiled Tubing Services

Quantifiable outcome

• 51% EBITDA margin in FY 2025, well above ~42% regional peer median
• +6 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Eleven partnerships are on record, tiered major, flagship and minor.

• Shandong Kerui Petroleum & Gas Equipment Co., Ltd. (KERUI)majorStrategic or Co-development Partner · 1 November 2025International industrial group providing one-stop oil & gas energy solutions with marketing network spanning Asia-Pacific, Central Asia, Middle East, Europe, North America, South America and Africa (52+ countries). Partnered with AEC on blood donation campaigns in 2025.
• CPVEN (CPVEN Venezuela)flagshipStrategic or Co-development Partner · 1 January 2016JV partnership with AEC to offer cementing, coiled tubing and mud engineering services in Kuwait; expanded in 2019 with additional cementing and mud engineering contracts valued at USD 200 million. Established 1981 in Venezuela/Colombia.
• KCA DeutagflagshipStrategic or Co-development Partner · 1 January 2015Global drilling and engineering contractor (130+ years experience, 113 rigs across 17 countries). Partnered with AEC since 2018 to deliver two 3,000 HP drilling rigs under KOC contracts; rigs mobilised in 2020 and 2021. Listed as a partner on AEC's homepage.
• China Oilfield Services Limited (COSL)majorStrategic or Co-development PartnerLeading integrated oilfield services provider in the Asian offshore market, with divisions covering Geophysical, Drilling, Well Services and Marine & Transportation services. AEC lists COSL as a strategic global technology partner.
• Tianjin RongHeng Group LLC (TRG)majorStrategic or Co-development PartnerState-recognised high-tech manufacturer founded in 1982, based in Ninghe County, Tianjin; produces petroleum drilling and exploitation equipment including ESP units, motors, water-injection pumps, screw pumps, plunger pumps, impellers and precision casings. AEC lists TRG among its strategic partners.
• Jereh Energy Services CorporationmajorStrategic or Co-development PartnerWholly-owned subsidiary of Jereh Group providing integrated oil & gas field solutions including intelligent oilfield systems, geological and reservoir studies, integrated drilling and completion, stimulation, production optimisation and field operations & maintenance.
• Gilgamesh Oilfield ServicesmajorStrategic or Co-development PartnerProvides full lifecycle oil and gas well services including cementing, coil tubing, slickline and wireline services, plus construction and production support. Listed by AEC as a strategic partner.
• NaftoServ Energy Services (Turkey)majorStrategic or Co-development PartnerJoint venture with AEC providing specialised upstream and downstream solutions including directional drilling, gyro and electronic magnetic multi-shot surveys, drilling bits, re-entry services, rig accessories, BOPs, inspection, machine shop, welding, redressing and down-hole tool rentals.
• Expert Optima LLPminorStrategic or Co-development PartnerOriginally established in 2007 and renamed Expert Optima LLP in 2015; provides oil and gas services, product supply and equipment rental as part of AEC's technology partner ecosystem.
• Helmerich & PaynemajorStrategic or Co-development PartnerListed by AEC as a leading global oil and gas partner with extensive expertise in upstream services; AEC has forged strong partnerships with H&P alongside other global leaders.
• Target NDT Company W.L.L.majorStrategic or Co-development Partner60%-owned AEC subsidiary headquartered in Kuwait; provides inspection and maintenance services for the oilfield sector including tubular inspection (drill pipes, casings, tubings, BHA tools), BHA inspection, transverse electromagnetic (EMI) drill pipe inspection, refacing and straightening. Established 2014.

Scale indicators15 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Weatherford International: Global oilfield services company providing drilling, evaluation and completions services. Overlaps with AEC's oilfield services segment (slickline, ESP, directional drilling, wireline). Senior AEC management previously worked at Weatherford.
• SLB (Schlumberger): World's largest oilfield services company, offering drilling, completion and production services globally. Relevant broader incumbent comparable for AEC's integrated oilfield services expansion; AEC's GM Services & Business Development previously spent a decade at Schlumberger.
• Nabors Industries: Global onshore drilling and oilfield services operator with a large international rig fleet. Relevant global comparable for high-spec onshore drilling operations; Craig Rasmussen, AEC's GM Drilling & Workover, previously held leadership roles at Nabors.
• Helmerich & Payne: Largest US-based land drilling contractor and a globally recognised leader in modern AC-drive rig technology. Strategic partner of AEC and a benchmark comparable for rig fleet quality, utilisation economics and onshore drilling unit economics.

Direct peers

• KCA Deutag: Global onshore and offshore drilling contractor with 113+ rigs across 17 countries. KCA Deutag is simultaneously a JV partner with AEC on the two 3,000 HP deep-drilling rigs and a direct competitor in onshore drilling services in Kuwait and the wider GCC.
• Arabian Drilling Company: Saudi Arabia-listed onshore and offshore drilling contractor serving Saudi Aramco with a comparable fleet size and onshore rig profile to AEC. Closest publicly traded peer by business model (national oil company-anchored onshore drilling) and regional footprint.
• ADNOC Drilling Company: UAE-listed drilling subsidiary of ADNOC operating a large onshore and offshore rig fleet serving the UAE national operator. Highly comparable business model: national oil company anchor, multi-rig fleet, integrated oilfield services expansion and similar growth trajectory.
• ADES International Holding: MENA-focused drilling and oilfield services contractor operating rigs across Egypt, the GCC and other MENA markets. Comparable in size and business mix, with similar dependence on national oil company contracts in the region.
• China Oilfield Services Limited (COSL): Leading Asia-based integrated oilfield services provider listed in Hong Kong and Shanghai. COSL is a strategic partner of AEC and a direct peer in drilling, well services and oilfield technology across MENA and Asia.

Regional players

• Shelf Drilling: MENA-focused offshore jack-up drilling contractor headquartered in Dubai. Less direct overlap (offshore versus AEC's onshore focus) but a relevant MENA drilling peer with a similar national oil company customer base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/action-energy-company

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries3 records

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Action Energy