KUWAIT CITY, June 15, 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, announced on May 20, 2026 the signing of a market maker agreement with National Investments Company (NIC).
This step builds on the strong investor reception to Action Energy Company's (AEC) initial public offering, and aims to enhance trading liquidity for shareholders following the Company's successful listing as one of Kuwait's leading upstream oilfield services and drilling companies supporting the country's crude oil production sector.
Under the agreement, NIC will enter paired buy and sell orders on AEC's shares during trading sessions, within a defined price spread and minimum order size, and at no less than a specified percentage of total monthly trading value. These arrangements are expected to enhance liquidity and support continuous supply and demand for the "ALFTAQA" share on Boursa Kuwait, improving market depth and accessibility for investors seeking exposure to Kuwait's upstream oil and gas sector.
NIC acted as Sole Listing Advisor, Sole Subscription Agent, Joint Global Coordinator, and Joint Bookrunner for AEC's IPO and its listing on the Premier Market of Boursa Kuwait in December 2025. The offering attracted strong demand from local and international investors, with subscriptions exceeding the offered value by 5.0 times, with an initial coverage value of KWD 276 million, reflecting investor confidence in Kuwait's energy sector, upstream drilling market, and long-term crude oil production growth plans.
AEC enters the remainder of 2026 with strong revenue visibility supported by a substantial multi-year contracted backlog with KOC, full fleet utilization, and a pipeline of new rig deployments and oilfield services contracts under mobilization.
AEC employs more than 1,700 professionals and operates 20 rigs across Kuwait, delivering a comprehensive range of integrated drilling, workover, and oilfield services, covering the full well lifecycle, including workover, directional drilling, slickline, coiled tubing, cementing, mud engineering, electric submersible pumps (ESP), inspection (NDT), and workshop services.
AEC has established strategic partnerships with global technology leaders including KCA Deutag, CPVEN, COSL, Expert Optima, NaftoServ, TRG, Jereh, and Kerui.
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