Investor Relations - Drilling
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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.

99
owned rigs​
10000
wells delivered​
76
million feet total distance drilled​​

Looking ahead, we are certain we will accelerate our growth trajectory and help deliver attractive dividends and long-term value to all our shareholders.

– Abdulrahman Al Seiari, Chief Executive Officer, ADNOC Drilling

Latest Announcement

10 May 2022

ADNOC Drilling Q1 2022 Net Income Grows to $175 Million, Exceeding Market Expectations ​

ADNOC Drilling Company PJSC today announced its financial results for the three-month period ended  March 31, 2022.reported significant revenue growth for the period, increasing to $601 million, up 14.9% on the same period last year. Year-on-year revenue growth was delivered across all business segments with the Company firmly on track to deliver on its ambitious plans. 

ADNOC Drilling Q1 2021 Financial Results Press Release

Latest Announcement

11 February 2022

ADNOC Drilling Announces Robust Full Year 2021 Net Income of $604 Million​

Solid net profit increase of 6% for the full year 2021.

Strong and resilient operational growth drives FY21 revenue to $2.27 billion, up 8.2% year-on-year.

Industry leading fleet utilization and excellent progress on cost efficiency results in full year EBITDA of over $1 billion.

The Board recommends a final dividend of $325 million for the second half of 2021.

 
Q4 and Full Year 2021 Results

Recent Event

Q1 2022 Earnings Call

 

On Tuesday, May 10 2022 ADNOC Drilling announced its Financial Results for the First Quarter ending March 31 2022.

A recording of the Earning Call webcast is available to view here


 

Our Operations

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

Onshore Drilling is our largest segment generating 50.2% of 2021 revenues with 65 land rigs.

Offshore - Jackups is the second contributor to our business accounting for 26.3 % of revenues with 24 jackups and one barge.

Offshore - Island represented 9% of revenues in 2021 with ten island rigs.

Oil Field Services (OFS) accounted for 14.5% of our revenues in 2021. 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.

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$
2.27
billion+
2021 revenue
$
604
million
2021 net income
$
1
billion+
2021 full-year EBIDTA
$
325
million
2021 second half dividend

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.
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Operational and Financial Highlights

We demonstrate superior and reliable EBITDA and net income margins compared to anyone among Onshore players, Offshore players or Oil Field Services (OFS) providers in the industry, at respectively 46% and 27% in 2020. The volatility of our historical financial performance is low.
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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.
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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.
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Sustainability

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.

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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.

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