Action Energy Company (AEC), a Kuwaiti-owned onshore drilling and oilfield services provider, has signed two strategic Memoranda of Understanding (MOUs) that mark the company’s initial phase of regional expansion.
The first MOU was signed with an established North American provider of oil and gas drilling and well services to collaborate on projects across Saudi Arabia and the wider Middle East.
This agreement establishes a framework for cooperation on drilling, workover and oilfield projects in Saudi Arabia and other strategic GCC markets.
The collaboration will focus on deploying modern, high-specification rigs and integrated well services, leveraging the technical strengths and regional experience of both organizations.
The strategic partnership also aims to combine AEC’s strong operational expertise with the partner’s global experience to deliver high-quality and sustainable drilling and oilfield services across the region.
The agreement also provides for the potential establishment of a strategic joint venture, through which the parties would jointly tender for projects and deliver drilling and well services to national and international energy companies.
The second MOU was signed with a leading Iraqi oilfield services provider to jointly execute lump-sum turnkey well drilling operations in Iraq.
Under this partnership, AEC will contribute its extensive drilling and workover expertise, while its Iraqi counterpart will provide oilfield services, local support, logistics, and established customer relationships.
Through this collaboration, AEC and its Iraqi partner aim to establish a leading local contractor capable of delivering comprehensive turnkey drilling and well completion projects for both local and international oil and gas companies operating in Iraq.
Following the signing, both parties met with the Minister of Oil of Iraq to present their joint cooperation framework and discuss opportunities to support the country’s drilling and production objectives.
Rawaf Bourisli, Vice Chairman of Action Energy, said: “These partnerships represent important steps in AEC’s strategy to combine complementary strengths with leading international and regional partners. They create a clear path to deliver high-quality drilling and well services across key Middle Eastern markets while supporting local content and operational excellence.”
