Chairman Sheikh Mubarak Abdullah Al-Mubarak Al-Sabah credited the company’s resilient business model for the gains, which include a 34.4% increase in total revenue. The firm, a key partner for the Kuwait Oil Company, is shifting its operational focus to balance its portfolio between core drilling activities and specialized oilfield services. Currently, drilling and workover services comprise 61% of the backlog, while the remaining 39% is tied to emerging service lines.

CEO Ahmad Mohammad Al-Ajlan highlighted the strategic expansion into electrical submersible pumps, slickline, and once-through steam generator services as central to the company’s growth. These sectors saw a $17.8 million investment during the period. Beyond traditional energy operations, the company is diversifying its reach through a new joint venture with Kellton, aimed at integrating artificial intelligence across the GCC energy sector. With all 20 rigs operating at full capacity and seven additional rigs scheduled for mobilization, the company maintains a target of keeping net debt-to-equity levels below 1.25x throughout the coming term.