Action Energy's Bourisli Highlights Kuwait's Oil Sector Capabilities Amid Regional Challenges
In an insightful interview with CNBC and Bloomberg, Rawaf Bourisli, the Vice Chairman of Action Energy Company K.S.C.P., made significant remarks regarding the strength and capability of Kuwait's national oil companies in addressing regional challenges. The discussion primarily focused on how these companies are solidly positioned to meet the ambitious production targets set for the year 2035. Bourisli confirmed that Action Energy is fully committed to supporting the upstream energy sector in Kuwait, specifically aiming to enhance the country's production capacity to an impressive four million barrels per day by 2035.
During the interviews, Bourisli emphasized the robustness of Action Energy's contracted backlog, which has achieved a staggering record of approximately USD 1.1 billion. This substantial figure predominantly arises from contracts with the Kuwait Oil Company (KOC), Kuwait's leading national oil corporation. According to Bourisli, almost 39% of this backlog comprises integrated and high-value oilfield services. By the latter half of 2026 and early 2027, these services are expected to significantly contribute to the company's financial performance. Bourisli articulated that these high-value services are not merely a short-term strategy but a long-term commitment aimed at boosting the company's growth trajectory.
In addressing shareholder interests, Bourisli discussed the Board of Directors' recommendation for an interim cash dividend of 3 fils per share. This decision reflects the company's healthy balance sheet and signals a strong commitment to delivering sustainable value to shareholders. Bourisli reiterated Action Energy's focus on executing a disciplined strategy that prioritizes both investment in growth and profitability, ensuring that the company can expand while simultaneously creating long-term value for its stakeholders.
Shifting the conversation to regional ambitions, Bourisli revealed that Action Energy's plans for international expansion have transitioned from mere strategy to actionable execution. This advancement is exemplified by their inaugural joint venture (JV) with Kellton, which aims to deploy artificial intelligence solutions. This partnership seeks to facilitate digitalization in well control and real-time monitoring across the energy sector. In a significant move, the JV is preparing to inaugurate its first regional office in Doha in the third quarter of 2026, a milestone reflecting its broader aspirations for GCC expansion.
Through this strategic JV, Action Energy intends to assist energy operators throughout the region in modernizing their operations. The focus will be on improving decision-making processes and maximizing asset value to achieve optimal operational efficiency. This initiative is expected to resonate well within the industry as digital transformation increasingly becomes a cornerstone of competitive advantage.
In the first half of 2026, Action Energy reported a revenue of KWD 18.1 million, marking a robust year-on-year growth rate of 34.4%. Their EBITDA increased by 28.3% to KWD 9.0 million, with a remarkable net profit of KWD 4.4 million, representing a staggering year-over-year growth of 96.6%. These figures not only underscore the company's rising financial fortunes but also validate its strategic direction amidst a dynamic and challenging market.
In summary, Action Energy, under Bourisli's leadership, is navigating through regional challenges while firmly focusing on achieving its ambitious production goals by 2035. The company's robust financial position combined with strategic partnerships and a clear plan for growth positions it well within the evolving energy landscape of Kuwait and the broader GCC region.
Key Highlights from the Discussion
During the interviews, Bourisli emphasized the robustness of Action Energy's contracted backlog, which has achieved a staggering record of approximately USD 1.1 billion. This substantial figure predominantly arises from contracts with the Kuwait Oil Company (KOC), Kuwait's leading national oil corporation. According to Bourisli, almost 39% of this backlog comprises integrated and high-value oilfield services. By the latter half of 2026 and early 2027, these services are expected to significantly contribute to the company's financial performance. Bourisli articulated that these high-value services are not merely a short-term strategy but a long-term commitment aimed at boosting the company's growth trajectory.
Focus on Sustainable Shareholder Value
In addressing shareholder interests, Bourisli discussed the Board of Directors' recommendation for an interim cash dividend of 3 fils per share. This decision reflects the company's healthy balance sheet and signals a strong commitment to delivering sustainable value to shareholders. Bourisli reiterated Action Energy's focus on executing a disciplined strategy that prioritizes both investment in growth and profitability, ensuring that the company can expand while simultaneously creating long-term value for its stakeholders.
Strategic International Expansion
Shifting the conversation to regional ambitions, Bourisli revealed that Action Energy's plans for international expansion have transitioned from mere strategy to actionable execution. This advancement is exemplified by their inaugural joint venture (JV) with Kellton, which aims to deploy artificial intelligence solutions. This partnership seeks to facilitate digitalization in well control and real-time monitoring across the energy sector. In a significant move, the JV is preparing to inaugurate its first regional office in Doha in the third quarter of 2026, a milestone reflecting its broader aspirations for GCC expansion.
Enhancing Operational Efficiency
Through this strategic JV, Action Energy intends to assist energy operators throughout the region in modernizing their operations. The focus will be on improving decision-making processes and maximizing asset value to achieve optimal operational efficiency. This initiative is expected to resonate well within the industry as digital transformation increasingly becomes a cornerstone of competitive advantage.
Financial Performance Recap
In the first half of 2026, Action Energy reported a revenue of KWD 18.1 million, marking a robust year-on-year growth rate of 34.4%. Their EBITDA increased by 28.3% to KWD 9.0 million, with a remarkable net profit of KWD 4.4 million, representing a staggering year-over-year growth of 96.6%. These figures not only underscore the company's rising financial fortunes but also validate its strategic direction amidst a dynamic and challenging market.
In summary, Action Energy, under Bourisli's leadership, is navigating through regional challenges while firmly focusing on achieving its ambitious production goals by 2035. The company's robust financial position combined with strategic partnerships and a clear plan for growth positions it well within the evolving energy landscape of Kuwait and the broader GCC region.
Topics Energy）
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