Action Energy Company Secures KWD 40.9 Million Funding for Rig Expansion Plans
Action Energy Company K.S.C.P. has made a significant move by securing a combined total of KWD 40.9 million in credit facilities from two local banks. This funding is crucial for supporting the company’s growth strategy in the upstream drilling sector and expanding its fleet of rigs, as well as enhancing its infrastructure for crude oil production in Kuwait's oil and gas industry.
On May 16, 2026, the company announced that new financing agreements were established, including KWD 7.3 million for the acquisition of two new 750 HP rigs. Additionally, the renewal and expansion of an existing facility amounted to KWD 33.6 million and aims to finance four new 1,500 HP rigs and one 1,000 HP rig, which will contribute positively to their operational capabilities.
This move aligns with Action Energy's ambition to increase the efficiency and capacity of its drilling operations, thus solidifying its position as a pivotal player in the oil and gas sector in Kuwait. The funding will enable the deployment of new drilling rigs, directly linked to previously announced contracts with the Kuwait Oil Company (KOC), which is the national oil company.
In the first quarter of the current financial year, Action Energy reported a remarkable net profit of KWD 2.2 million, which reflected a 150% increase from the previous year. This growth was largely driven by the expansion of its rig fleet, which grew from 13 to 20 rigs within a year, benefiting from the full-quarter contributions of the newly deployed rigs throughout 2025. This influx in capacity has also led to a 69.2% increase in revenue year-on-year.
As Action Energy steps into the latter half of 2026, it does so with solid revenue predictability bolstered by a substantial multi-year contracted backlog with KOC. The company enjoys full utilization of its fleet and has plans in place for new rig deployments and oilfield services contracts currently under mobilization.
Employing over 1,700 professionals, Action Energy operates a diverse fleet of 20 rigs across Kuwait. The company offers an extensive range of integrated drilling and oilfield services, which encompass a variety of critical functions throughout the well lifecycle. These services include workovers, directional drilling, slickline operations, cementing, coiled tubing, mud engineering, as well as inspection services and workshop solutions.
Moreover, Action Energy has formed strategic partnerships with reputable technology leaders, such as KCA Deutag and CPVEN, which further enhances its capabilities in providing comprehensive oil and gas solutions. With such a broad range of services and significant growth plans in place, Action Energy Company is poised to continue expanding its footprint in Kuwait's competitive oil sector.
In summary, this recent acquisition of funding not only strengthens Action Energy's financial backbone but also enhances its capacity to respond to the increasing demands within the growing oil and gas market in the region. As they implement their expansion strategy, the company remains focused on its commitment to deliver efficient, innovative, and integrative solutions that support both its operational needs and its strategic objectives for the future.
On May 16, 2026, the company announced that new financing agreements were established, including KWD 7.3 million for the acquisition of two new 750 HP rigs. Additionally, the renewal and expansion of an existing facility amounted to KWD 33.6 million and aims to finance four new 1,500 HP rigs and one 1,000 HP rig, which will contribute positively to their operational capabilities.
This move aligns with Action Energy's ambition to increase the efficiency and capacity of its drilling operations, thus solidifying its position as a pivotal player in the oil and gas sector in Kuwait. The funding will enable the deployment of new drilling rigs, directly linked to previously announced contracts with the Kuwait Oil Company (KOC), which is the national oil company.
In the first quarter of the current financial year, Action Energy reported a remarkable net profit of KWD 2.2 million, which reflected a 150% increase from the previous year. This growth was largely driven by the expansion of its rig fleet, which grew from 13 to 20 rigs within a year, benefiting from the full-quarter contributions of the newly deployed rigs throughout 2025. This influx in capacity has also led to a 69.2% increase in revenue year-on-year.
As Action Energy steps into the latter half of 2026, it does so with solid revenue predictability bolstered by a substantial multi-year contracted backlog with KOC. The company enjoys full utilization of its fleet and has plans in place for new rig deployments and oilfield services contracts currently under mobilization.
Employing over 1,700 professionals, Action Energy operates a diverse fleet of 20 rigs across Kuwait. The company offers an extensive range of integrated drilling and oilfield services, which encompass a variety of critical functions throughout the well lifecycle. These services include workovers, directional drilling, slickline operations, cementing, coiled tubing, mud engineering, as well as inspection services and workshop solutions.
Moreover, Action Energy has formed strategic partnerships with reputable technology leaders, such as KCA Deutag and CPVEN, which further enhances its capabilities in providing comprehensive oil and gas solutions. With such a broad range of services and significant growth plans in place, Action Energy Company is poised to continue expanding its footprint in Kuwait's competitive oil sector.
In summary, this recent acquisition of funding not only strengthens Action Energy's financial backbone but also enhances its capacity to respond to the increasing demands within the growing oil and gas market in the region. As they implement their expansion strategy, the company remains focused on its commitment to deliver efficient, innovative, and integrative solutions that support both its operational needs and its strategic objectives for the future.
Topics Energy）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.