Kuwait CityJune 17, 2026 /PRNewswire/ — Action Energy Company K.S.C.P. (Bloomberg: ALFTAQA.KK, Reuters: ALFTAQA.KW), a leading local integrated upstream services cooperative enterprise in Kuwait that owns and operates one of the region’s most modern drilling rig fleets, announced on May 20, 2026, that it has signed a market maker agreement with National Investments Company (NIC).
Action Energy Company Rig
As one of the leading upstream oilfield services and drilling companies supporting Kuwait’s crude oil production sector, the company had previously successfully listed. This move, building on strong investor response to Action Energy Company’s (AEC) initial public offering (IPO), aims to further enhance stock trading liquidity for the company’s shareholders.
Under the agreement, during trading hours, NIC will provide two-way buy and sell quotes for AEC’s stock within specified bid-ask spreads and minimum order sizes, with a monthly market-making transaction amount not falling below a specified proportion. These arrangements are expected to enhance liquidity, maintain a continuous supply and demand for “ALFTAQA” shares on Boursa Kuwait, thereby improving market depth and providing greater trading convenience for investors seeking to invest in Kuwait’s upstream oil and gas sector.
NIC served as the exclusive listing advisor, exclusive subscription agent, joint global coordinator, and joint bookrunner during AEC’s IPO and listing on the main market of Boursa Kuwait in December 2025. The offering attracted strong demand from both local and international investors, with total subscriptions reaching 5 times the offering size and an initial total subscription amount of 276 million Kuwaiti dinars. This reflects investor confidence in Kuwait’s energy sector, the upstream drilling market, and long-term crude oil production growth plans.
Entering the remaining period of 2026, AEC maintains strong revenue visibility, supported by a substantial multi-year contract backlog with KOC, full drilling rig utilization, and the ongoing deployment of new drilling equipment and oilfield services contract pipeline.
AEC currently employs over 1,700 professionals and operates 20 drilling rigs across Kuwait, providing comprehensive integrated drilling, workover, and oilfield services. These services cover the entire lifecycle of wells, including workover, directional drilling, wireline operations, coiled tubing operations, cementing, mud engineering, electric submersible pumps (ESP), non-destructive testing (NDT), and workshop services.
AEC has established strategic partnerships with numerous global technology leaders, including KCA Deutag, CPVEN, COSL, Expert Optima, NaftoServ, TRG, Jereh, and Kerui.