KUWAIT CITY, Aug. 12, 2026 /PRNewswire/ -- In interviews with CNBC TV and Bloomberg TV, Eng. Rawaf Bourisli, Vice Chairman of Action Energy Company K.S.C.P. (Bloomberg: ALFTAQA KK) (Reuters: ALFTAQA.KW), said Kuwait's national oil companies have shown exceptional capability in navigating ongoing regional challenges, reaffirming Action Energy Company's (AEC) commitment to supporting Kuwait's upstream energy sector and Kuwait's long-term production objectives, including Kuwait's target of increasing production capacity to four million barrels per day by 2035.
Eng. Boursli added that the company's contracted backlog has reached a record level of approximately US$1.1 billion mainly with Kuwait Oil Company ("KOC"), Kuwait's national oil company, providing strong revenue visibility over the coming years. He noted that approximately 39% of the backlog comprises integrated, high-value oilfield services, which are expected to become an increasingly significant contributor to the company's financial performance during the second half of 2026 and into early 2027.
Commenting on the Board of Directors' recommendation to distribute the company's first interim cash dividend of 3 fils per share, Eng. Boursli said: "This recommendation reflects a healthy balance sheet and a commitment to delivering sustainable shareholder value. We remain focused on executing a disciplined strategy that balances investment in growth with profitability, enabling us to continue expanding the business while creating long-term value for our shareholders."
On the regional front, Eng. Boursli said the company's international expansion has moved from strategy to execution, anchored by its first joint venture (JV) with Kellton to deploy artificial intelligence solutions for well control digitalization and real-time monitoring. The joint venture is also preparing to open its first regional office in Doha during the third quarter of 2026, marking the first step in its broader GCC expansion plans. Through this JV, the company aims to help energy operators across the region modernize their operations, improve decision-making, and maximize the value of their assets.
In H1 2026, Action Energy reported revenue of KWD 18.1 million, up 34.4% year over year, EBITDA of KWD 9.0 million, up 28.3%, and net profit of KWD 4.4 million, representing year-over-year growth of 96.6%.
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