Action Energy has secured new financing to support its expansion plans in Kuwait’s energy sector. The Action Energy funding package totals KWD 40.9 million. Furthermore, the company plans to use these facilities to expand its contracted drilling fleet and strengthen its service capabilities.
The financing comes from two local banks. Together, the facilities will support new drilling projects and energy infrastructure developments. In addition, the funding aligns with the company’s long-term growth strategy in Kuwait’s upstream oil and gas industry.
According to company officials, the financing will help deploy several new drilling rigs. As a result, the company expects to increase its operational capacity across multiple projects. The expansion follows recent contract awards linked to Kuwait’s national oil sector.
One facility provides KWD 7.3 million for the acquisition of two new 750-horsepower rigs. Meanwhile, a second facility provides KWD 33.6 million for additional equipment and expansion activities. The larger facility will support four new 1,500-horsepower rigs and one 1,000-horsepower rig.
Moreover, the company renewed its existing financing arrangements as part of the agreement. This move strengthens financial flexibility while supporting future growth objectives. Consequently, management expects smoother execution of its ongoing expansion plans.
The latest financing strengthens the company’s capital structure. Therefore, it can continue investing in drilling services and production infrastructure. The additional resources also support growing demand within Kuwait’s energy market.
Earlier this year, the company reported strong first-quarter results. Net profit reached KWD 2.2 million during the period. Additionally, profit increased by 150 percent compared with the same period last year.
Revenue also recorded significant growth. The company reported a year-on-year increase of 69.2 percent. Management attributed this growth to a larger rig fleet and higher operational activity.
The company’s fleet expanded from 13 rigs in early 2025 to 20 rigs in 2026. As a result, the additional equipment contributed to stronger revenue performance. New rigs deployed during 2025 also supported the quarterly results.
Looking ahead, Action Energy expects continued growth throughout the remainder of 2026. The company benefits from a substantial backlog of contracted projects. Furthermore, full fleet utilization provides strong revenue visibility.
Several new rigs remain under deployment across active projects. At the same time, additional oilfield service contracts continue moving toward implementation. These developments could further support earnings growth.
Action Energy currently employs more than 1,700 professionals across Kuwait. The company operates 20 rigs and provides a wide range of oilfield services. Its operations cover drilling, workover activities, directional drilling, cementing, and engineering solutions.
In addition, the company works with several international technology partners. These partnerships support advanced services and operational efficiency. Consequently, the company continues to strengthen its position in Kuwait’s energy industry.
The latest financing marks another important step in the company’s expansion journey. As investment continues, Action Energy aims to meet growing demand while supporting Kuwait’s energy development goals. The company remains focused on expanding capacity and delivering long-term growth.
