Kuwait City – July 30, 2025
Action Energy, a leading Kuwaiti oilfield services provider, is reportedly preparing for a rare initial public offering (IPO), potentially becoming the first energy-sector firm in Kuwait to go public in nearly two decades.
Sources familiar with the matter indicate that the company is working with National Investments Company (NIC) and EFG Hermes as advisors, with investor engagement expected to begin as early as September 2025. While a final decision has not been made, internal discussions are said to be well underway.
🛢️ About the Company
Founded in 2014, Action Energy operates a modern fleet of onshore drilling rigs ranging from 750 to 3,000 horsepower. It provides a wide range of oilfield services, including:
- Drilling and workover operations
- Coiled tubing and nitrogen lifting
- Cementing and completion fluids
- Mud engineering and wireline services
The company is part of Action Group Holdings, a diversified conglomerate based in Kuwait with interests across logistics, energy, and infrastructure.
💰 Strategic Financing and Growth
In 2024, Action Energy made headlines by issuing convertible preferred shares — a first in Kuwait’s capital markets. The proceeds were used to fund new projects and expand its technical capabilities amid rising demand for upstream oil services in the Gulf region.
The company is also exploring opportunities beyond Kuwait, with expansion plans in Saudi Arabia and other Gulf markets as part of a broader regional growth strategy.
📉 Market Context
If the IPO moves forward, it will mark a notable milestone for Kuwait’s stock exchange, which has seen relatively few listings in recent years—particularly in the oil and gas sector. The last major energy IPO in the country was more than 15 years ago.
Analysts say the listing could revitalize investor interest in Kuwait’s capital markets and signal confidence in the long-term relevance of oilfield services, even as the global energy landscape shifts.
📌 Outlook
Action Energy’s potential IPO reflects a broader trend of private energy firms turning to public markets for growth capital. If successful, the offering could pave the way for other regional players to consider similar moves, adding momentum to Kuwait’s economic diversification and investment reform efforts.
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