Action Energy and Kellton Form Strategic JV to Accelerate AI-Led Digital Transformation Across the GCC Energy Sector
Action Energy Company K.S.C.P., a prominent local partner for integrated upstream services in Kuwait, has announced a strategic joint venture with Kellton, a global AI-led digital transformation and enterprise technology company. This collaboration aims to drive AI-led digital transformation in the energy sector across the Gulf Cooperation Council (GCC).
In the joint venture, Action Energy Company (AEC) will hold a 51% ownership stake, while Kellton will hold 49%. The initial term of the joint venture is set for five years and will be automatically renewable for successive three-year periods.
The partnership will focus on various business lines, including digital oilfield solutions and IT services. It will deploy Kellton's OPTIMA platform, a digital oilfield management tool, and offer IT products and services across multiple sectors, such as enterprise software, cloud computing, cybersecurity, ERP implementation, systems integration, and managed services. The joint venture combines AEC's industry relationships and operational expertise with Kellton's skills in AI, digital engineering, cloud, and data analytics.
As part of their plans, the joint venture aims to establish a presence in Doha and expand across the GCC, including Saudi Arabia, the United Arab Emirates, and Oman. A key focus will be the rollout of the OPTIMA platform, leveraging AI and automation to enhance field operations for clients in the region.
Ivan Chikunov, General Manager of Services & Business Development at AEC, stated, "This JV advances AEC's strategy to expand its oilfield services by digitally modernizing field operations and enhancing quality. The addressable market for oil and gas digitalization across the GCC exceeds US$1 billion annually, and our objective is to capture at least 5% of this market over time." Krishna Chintam, Managing Director at Kellton, added, "The GCC is becoming one of the world's most ambitious markets for AI adoption and enterprise transformation."