• AEC’s contracted position provides strong visibility on future performance. The Total Backlog expanded from KWD 63.3 million in 2020 to KWD 131 million in 2022 and reached KWD 321.5 million as of 31 December 2025, reflecting growth in rig capacity, expansion into oilfield services, and continued market share gains.  
  • The current Total Backlog as of 31 December 2025 consists of drilling contracts of KWD 229.9 million and services contracts of KWD 91.6 million.
  • By segment, 72% of the Total Backlog relates to drilling services and 28% to oilfield services, underscoring the diversification of revenue streams. Virtually all backlog is KWD-denominated, providing currency stability, and the majority is contracted with KOC, reflecting the strength of long-standing customer relationships.