Investor Relations - Drilling

Investor Relations

ADNOC Drilling
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Capitalizing on ADNOC's ambitious expansion strategy

A unique mandate and unmatched financial profile in the drilling industry​

High visibility, captive growth, substantial earnings and cash flow generation

Drilling is a strategic business of the oil and gas value chain and ADNOC Drilling is a key asset of ADNOC, the Abu Dhabi National Oil Company, whose mission is to manage the vast hydrocarbon reserves and main source of income of the Emirate of Abu Dhabi. As the sole provider of drilling services in Abu Dhabi, we benefit from a unique relationship and a contractual framework with the Group that provides us with an unmatched visibility on our long-term top line growth, returns and cash flow generation.

At the heart of the ADNOC upstream ecosystem, we have, since 1972, built an impressive track record of strong operational and financial performance. Today, as the first national integrated drilling services provider in the region, we are adding a full range of oil field services to our original drilling offering, and are in an advantageous position to serve ADNOC’s ambitious long-term plans to further increase its crude production and to unlock new unconventional gas resources.

+ wells delivered​
+ million feet total distance drilled​​

Over the past twelve months we have further demonstrated the strength of our unique business model, that directly benefits from ADNOC’s five million barrel per day capacity target and has delivered outstanding business growth and results. Our ambitious fleet expansion strategy coupled with the accelerated growth of Oilfield Services has delivered exceptional bottom-line performance, beyond the expectations of the market.

Abdulrahman Abdulla Al Seiari

CEO, ADNOC Drilling

Latest Announcement

13 February 2024

ADNOC Drilling Announces Robust Results For 2023: Net Profit Exceeds $1 Billion, Up 29% Year-on-Year Beating Market Expectations​



Press Release


The Board of Directors has recommended a final dividend payment of $358 million for 2023 (8.22 fils per share), subject to shareholder approval at the upcoming Annual General Meeting (“AGM”). The total dividend for 2023 equals to $717 million (16.45 fils per share), representing a 5% year-on-year increase versus 2022. The final 2023 dividend is expected to be distributed in the first half of April 2024.

Recent Event

Annual General Meeting (AGM)

ADNOC Drilling's Annual General Meeting (AGM) was held on Wednesday, March 13, 2024.

Our Operations

Our Operations are organized into four reporting segments: Onshore, Offshore-Jack-ups, Offshore-Island and Oil Field Services (OFS).

Onshore Drilling is our largest segment generating 48.9% of 2023 revenues. 

Offshore - Jack-ups is the second contributor to our business accounting for 26.2% of 2023 revenues.

Offshore - Island represented 6.8% of revenues in 2023.

Oil Field Services (OFS) accounted for 18.1% of our revenues in 2023. Established in 2018, the segment allowed ADNOC Drilling to become the first Integrated Drilling Services provider in the Middle East and is expected to grow significantly over the next decade.



Dividends and Dividend Policy

Our dividend policy is designed to reflect our expectation of strong cash flow and our expected long-term earnings potential, while allowing us to retain sufficient capital to fund ongoing operating requirements and continued investment for long-term growth.

Operational and Financial Highlights

ADNOC Drilling in FY2023 generated total revenue of $3.1 billion, achieving a year-on-year increase of 14% from $2,269 million. Top line performance also led to a 20% jump in EBITDA to $1,483 million from $1,232 million in the prior year period with reported net profit of $1,033 million in 2023, an increase of 29% from $802 million in 2022.

Reports, Presentations and Announcements

Quick access to our documents illustrating our operational and financial performance; corporate reports, presentations and regulatory announcements, since our initial listing on the Abu Dhabi Securities Exchange (ADX) on 3 October 2021.

Stock Market Data

Trading of the ADNOC Drilling shares on the Abu Dhabi Securities Exchange (ADX) commenced on 3 October 2021 under the symbol ADNOCDRILL. The company’s paid up share capital is AED 1.6 billion (one billion six hundred million UAE dirhams) divided into 16,000,000,000 shares, each with a nominal value of AED 0.10.


For nearly 50 years ADNOC Drilling has drilled wells to enable ADNOC to sustainably unlock Abu Dhabi’s oil and gas wealth for the benefit of the nation.


Corporate Video

Corporate Governance

ADNOC Drilling has historically held a strong corporate governance framework which has matured since 2020 and further enhanced pre-IPO to be fully aligned with SCA's corporate governance guidelines.


Scam Alert

Fraudsters are advertising fake investment opportunities. ONLY refer to official ADNOC Drilling channels for investor information. The fraudster poses as a representative of ADNOC Drilling, pretending to offer an opportunity to contract with ADNOC Drilling. This is either to provide goods or services to ADNOC Drilling or to propose an investment opportunity. 

Often - but not always - the fraud involves a request for you to pay money to them in order to win the contract or participate in the investment.
ADNOC Drilling will never ask for money from a third party to participate in its procurement process or in order to be considered for a business or investment opportunity.