Joint Venture Details
- Parties: Kellton Tech EU Limited (Subsidiary of KTSL) and Action Energy Company K.S.C.P. (AEC) of Kuwait
- Ownership Structure: Action Energy Company holds 51% stake, Kellton Tech EU Limited holds 49% stake
- Term: Initial term of five years, automatically renewable for successive three-year periods
- Geographic Scope: Gulf Cooperation Council (GCC) countries with initial plans to establish office in Doha, Qatar
Business Focus and Offerings
The JV will operate in two main business lines:
- Oil & Gas: Digital oilfield solutions and services, including deployment of Kellton's OPTIMA platform (digital oilfield management platform)
- Information Technology: IT products and services across multiple sectors including enterprise software, cloud computing, cybersecurity, enterprise resource planning (ERP) implementation, systems integration, and managed services
Strategic Rationale and Market Opportunity
The partnership combines Subsidiary's expertise in artificial intelligence, digital engineering, cloud, cybersecurity & data with AEC's deep industry relationships and operational experience. The JV aims to help energy operators across GCC modernize operations and improve decision-making.
AEC's General Manager stated that the addressable market for oil and gas digitalization across GCC exceeds US$1 billion annually, with the objective to capture at least 5% of this market over time.
Technology Platform
A central focus is the regional deployment of OPTIMA, the Subsidiary's proprietary digital oilfield platform designed for intelligent operations, workflow automation, asset performance optimization, real-time visibility, and AI-driven decision-making.
Expansion Plans
Beyond Kuwait, the JV plans to establish presence in Doha, Qatar where business potential has been identified, with broader ambition to grow across GCC market including Saudi Arabia, UAE, and Oman.