Announced Mon, 6 Jul · 17:58 IST
Kellton Tech subsidiary forms GCC energy JV with Action Energy
Compliance View source PDF
KELLTONTEC · price
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AI summary
Kellton Tech's wholly owned subsidiary Kellton Tech EU (49 percent stake) has formed a strategic JV with Kuwait-based Action Energy Company (51 percent) for AI-led energy transformation across the GCC. The 5-year JV will deploy Kellton's OPTIMA digital oilfield platform across the region, starting with a Qatar office. Target is 5 percent of the 1 billion dollar plus GCC oil and gas digitalization market.
Likely market impact
Opens access to GCC energy market; potential new revenue from OPTIMA platform. Long-term growth play, though 49 percent is a minority stake.