ADNOC Drilling delivers record H1 2025 results

July 30, 2025 / 5:57 PM

Sharjah 24 – WAM: ADNOC Drilling Company announced its financial results for the second quarter and first half of 2025, achieving record revenue, EBITDA, and net profit. Net profit rose 21% year-on-year to $692 million, with revenue increasing 30% to $2.37 billion and EBITDA reaching $1.08 billion. The growth was driven by rig fleet expansion, higher utilisation, and strong Oilfield Services (OFS) performance.

Strong outlook and CEO statement

CEO Abdulla Ateya Al Messabi praised the company's performance, highlighting ADNOC Drilling's ability to scale and grow in any energy cycle, with the help of AI and advanced technologies. He reaffirmed confidence in meeting the full-year growth targets.

Dividend and shareholder value

The Board approved a $217 million second-quarter dividend (approx. 5 fils per share), to be distributed in August 2025. With more payouts expected later this year, ADNOC Drilling remains committed to delivering strong and visible returns.

Segment performance and expansion

Onshore revenues grew significantly, supported by new rigs and unconventional operations. Offshore and OFS segments also saw strong performance. The company signed a deal to acquire 70% of SLB’s land drilling operations in Kuwait and Oman, marking a key step in regional expansion.

Innovation and technology platforms

Subsidiaries like Enersol and Turnwell continued to expand operations. Enersol advanced its Abu Dhabi hub and launched an energy innovation challenge, while Turnwell achieved major milestones in unconventional drilling using new autonomous technologies.

Contract wins and future targets

In 2025, ADNOC Drilling secured $4.8 billion in new contracts—its strongest period ever—offering long-term earnings visibility. The company expects to generate around $5 billion in revenue by 2026 and aims to operate more than 151 rigs by 2028.