Action Energy secures KWD 40.9M credit
Analysis based on 7 articles · First reported Jun 15, 2026 · Last updated Jun 15, 2026
The market is positively impacted by Action Energy Company's securing of KWD 40.9 million in credit facilities, as it enables the company to expand its rig fleet and execute its growth strategy in Kuwait's oil and gas sector. This expansion is expected to lead to increased revenue and net profit for Action Energy Company, potentially boosting investor confidence in the company and the broader energy services market in Kuwait.
Action Energy Company, a leading integrated upstream services provider in Kuwait, secured KWD 40.9 million in new and expanded credit facilities from Kuwait International Bank and Commercial Bank of Kuwait. This financing will support the company's upstream drilling growth strategy, including the deployment of new drilling rigs linked to existing contracts with Kuwait Petroleum Corporation — Kuwait Oil Company. The facilities include KWD 7.3 million from Kuwait International Bank for two new 750 HP rigs and KWD 33.6 million from Commercial Bank of Kuwait for four new 1,500 HP rigs and one 1,000 HP rig, along with the renewal of existing facilities. This move strengthens Action Energy Company's capital structure and enhances its ability to execute its expansion plan through 2026 and beyond, building on its strong Q1 2026 financial performance with a 150% increase in net profit and 69.2% revenue growth.
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