• Sustain and grow market leadership in Kuwait: AEC is dedicated to onshore drilling and workover services in Kuwait, where demand is underpinned by KOC’s long-term target to increase crude production capacity to 4.0 mmbpd (million barrels per day) by 2035 and expand free gas output. These initiatives are expected to require approximately 201 drilling and workover contracts by 2030. With one of the youngest fleets in the country and a 94% bid win rate in drilling tenders to date, AEC is well-positioned to capture a share of this expansion. The Company’s strong track record, long-standing relationship with KOC, and fully pre-qualified rig fleet support its ability to sustain and grow market share in its core domestic market.
  • Expand and diversify oilfield services: Building on its drilling platform, AEC is actively expanding its presence in adjacent oilfield services (OFS). Strategic partnerships with global technology providers enable knowledge transfer, technical capability enhancement, and transition from JV-based participation to independent execution. This diversification broadens AEC’s role as a partner to KOC, deepens integration with the upstream value chain, and enhances resilience through recurring service revenues.
  • Pursue regional expansion and opportunistic M&A: Beyond Kuwait, AEC is evaluating opportunities to replicate its operating model across the GCC, where significant incremental demand for drilling and workover rigs is expected by 2030. Growth avenues include bidding independently using existing pre-qualifications, entering into joint ventures, and selectively acquiring local operators or service providers to accelerate entry into attractive markets. All expansion is guided by a disciplined capital allocation framework that maintains conservative leverage and focuses on sustainable shareholder returns.