AEC's Bourisli to Bloomberg: National oil companies have demonstrated strong capability in navigating regional challenges & AEC supports Kuwait's 2035 production targets

Kuwait's national oil companies have demonstrated a strong capacity to manage regional challenges, stated Eng. Rawaf Bourisli, Vice Chairman of Action Energy Company KSCP (AEC). Bourisli reaffirmed AEC's commitment to supporting Kuwait's ambitious production targets, including the national objective to reach four million barrels per day by 2035.

Bourisli highlighted AEC's robust financial performance and future outlook in interviews with CNBC TV and Bloomberg TV. The company's contracted backlog has surged to a record approximately $1.1 billion. This backlog provides strong revenue visibility for the coming years, with about 39% comprising integrated, high-value oilfield services. These services are expected to significantly boost the company's financial results in late 2026 and early 2027.

Reflecting its financial health, the Board of Directors recommended AEC's first interim cash dividend of 3 fils per share. Bourisli described this as a sign of a healthy balance sheet and a commitment to sustainable shareholder value. He emphasized the company's strategy balances growth investments with profitability, aiming for long-term value creation.

On the international front, AEC is actively executing its expansion strategy. This includes its first joint venture with Kellton to implement AI solutions for well control digitalization and real-time monitoring. The JV plans to open its first regional office in Doha in the third quarter of 2026, initiating broader GCC expansion. This venture aims to modernize operations and enhance asset value for regional energy operators. In the first half of 2026, AEC reported significant year-over-year growth: revenue increased by 34.4% to KWD 18.1 million, EBITDA rose by 28.3% to KWD 9.0 million, and net profit soared by 96.6% to KWD 4.4 million.

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This recommendation reflects a healthy balance sheet and a commitment to delivering sustainable shareholder value. We remain focused on executing a disciplined strategy that balances investment in growth with profitability, enabling us to continue expanding the business while creating long-term value for our shareholders.