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

14 November 2023

ADNOC Drilling Delivers Robust Growth in Third Quarter, with Net Profit Up 36% year-on-year to $257 million ​



3Q-2023- Press release


Subject to the foregoing, shareholders at the Annual General Meeting in April of 2023 approved a final dividend payment for the second half of 2022 totaling $341.25 million, or 7.83 fils per share, which was distributed to shareholders on April 25, 2023.

Furthermore, the Board of Directors announced an interim cash dividend for fiscal year 2023 totaling $358.3 million, or 8.22 fils per share, which was distributed to shareholders on October 27, 2023. The interim dividend payment was 5% higher than the interim dividend payment of fiscal year 2022, in-line with the Company’s dividend policy.


Recent Event

Annual General Meeting (AGM)

ADNOC Drilling's Annual General Meeting (AGM) was held on Monday, April 3, 2023.

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 54.3% of 2022 revenues. 

Offshore - Jack-ups is the second contributor to our business accounting for 22.8% of 2022 revenues.

Offshore - Island represented 7.6% of revenues in 2022.

Oil Field Services (OFS) accounted for 15.1% of our revenues in 2022. 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 FY2022 generated total revenue of $2,673 million, achieving a year-on-year increase of 18% from $2,269 million. Top line performance also led to an 18% jump in EBITDA to $1,232 million from $1,047 million in the prior year period with reported net profit of $802 million in 2022, an increase of 33% from $604 million in 2021.

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.