• AEC’s contracted position provides strong visibility on future performance. The Total Backlog (see below) expanded from KWD 63 million in 2020 to KWD 131 million in 2022 and reaching KWD 3234 million as of 30 September 2025, reflecting growth in rig capacity, expansion into oilfield services, and continued market share gains.  
  • The current Total Backlog as of 30 September 2025, consists of signed and awarded contracts totaling KWD 261.9 million, comprising drilling contracts of KWD 170.3 million and services contracts of KWD 91.6 million, and under tender contracts totaling KWD 61.6 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.