Action Energy Company Shareholders Approve Dividend

KUWAIT CITY, May 14, 2026 /PRNewswire/ — Action Energy Company K.S.C.P. (Bloomberg: ALFTAQA.KK) (Reuters: ALFTAQA.KW), Kuwait’s leading local partner for integrated upstream services, owner and operator of one of the youngest rig fleets in the region, held its FY25 AGM on 7 May 2026. Shareholders approved a cash dividend of 3 fils per share (3% of nominal value).

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The Company posted record FY25 results, with revenue up 53% to KWD 31.9m and net profit up 202% to KWD 5.7m. EBITDA grew 57% to KWD 16.4m, and EPS reached 14.35 fils. Performance was driven by higher rig utilization, oilfield services ramp-up, and contract awards aligned with Kuwait’s upstream crude oil investment cycle.

Sheikh Mubarak Abdullah Al-Mubarak Al-Sabah, Chairman of Action Energy Company (AEC) said, «Action Energy continues to focus on its 2026 strategic priorities while maintaining operational flexibility and supporting national oil companies, underpinned by a strong financial position, a healthy balance sheet and a resilient business model. As a Kuwaiti operator committed to the country’s long-term energy objectives, and a home-grown integrated upstream services provider, the Company stands ready and fully mobilized to support and contribute to the continued recovery of the energy sector.»

Outlook: AEC expects to continue upstream drilling operations without material disruption, supported by a record backlog of KWD 321.5m and an active onshore drilling contract pipeline tied to Kuwait’s crude oil production roadmap. The Company is expanding its fleet to 27 drilling rigs (20 operating, 7 under construction), reinforcing its position as a strategic partner to Kuwait’s national oil sector, a core OPEC producer. The company continues to monitor the current situation closely while remaining focused on delivering high quality services and long-term value to its stakeholders. It has also taken measures to mitigate potential logistical risks, including the early activation of emergency response plans and the strategic stockpiling of critical spare parts.

AEC is Kuwait’s leading private onshore drilling and oilfield services partner and owner-operator of one of the youngest, most technologically advanced rig fleets in the region. With more than 1,700 professionals and 20 rigs operating across Kuwait, AEC delivers integrated drilling, workover, and oilfield services across the full well lifecycle. Founded in 2015, AEC partners with global technology leaders including KCA Deutag, CPVEN, COSL, Jereh, and Kerui and serves Kuwait Oil Company and other local players.

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