Balance Sheet - Drilling

Company
Company
Established in 1972 as ADNOC's sole drilling provider, ADNOC Drilling is today the largest national drilling company in the Middle East by rig fleet size with plans to expand further within this decade.

Company>Board of Directors
The Board of Directors is responsible for ADNOC Drilling’s strategic direction, oversight and corporate governance.

Company>Executive Management
The Executive Management team is responsible for overseeing ADNOC Drilling's operation and business development activities.

Company>History
ADNOC Drilling was created by Emiri Decree in 1972 as the first subsidiary under full Abu Dhabi National Oil Company (ADNOC) ownership, with a mission to drill wells helping ADNOC unlock the UAE’s vast reserves of oil and gas for the benefit of the nation.
Operations and Services
Operations and Services
- Natural Resources in the UAE
- Operations and Services
Operations and Services>Natural Resources in the UAE
Home to the world's sixth largest crude oil reserves, the UAE currently holds around 107 billion stock tank barrels (STB) of proven oil reserves.

Operations and Services>Operations and Services
As the majority of the crude oil and gas reserves in the UAE are located in Abu Dhabi, most exploration, appraisal, development and production activities in the UAE is carried out by ADNOC.
Innovation and Growth
Innovation and Growth
- Strategy
- Drilling Technologies
Innovation and Growth>Strategy
Our strategy positions us well to benefit from a planned increase in drilling activity and to meet ADNOC’s target of increasing crude oil production capacity to 5 million barrels per day by 2030.

Innovation and Growth>Drilling Technologies
We continue to tirelessly refine the way we work, leveraging smart drilling techniques and engineering solutions, building our capabilities so we can be even more cost efficient as we drill more wells.
Sustainability
Sustainability
Our ambition is to provide efficient, reliable, and responsible drilling solutions, to create long lasting sustainable value for our people, society, and environment across our operations.

Sustainability>Climate, Emissions and Energy
We are committed to managing risks related to climate change and reducing Greenhouse Gas (GHG)and non-GHG air emissions. We remain fully aligned with ADNOC Group’s goal of reducing GHG emissions intensity by 25% (scope 1 and scope 2) by 2030 and targeting to achieve Net Zero by 2045.

Sustainability>Environment
We are committed to managing and minimizing risks associated with water, waste and biodiversity and regularly monitoring and improving our environmental performance.

Sustainability>Economic and Social Contribution
We are committed to continuously investing in and creating opportunities for UAE Nationals, fostering a long-term positive impact in the communities where we operate, and increasing our In-Country Value (ICV) contribution year-on-year.

Sustainability>Workplace Diversity and Development
We are committed to create safe and inspiring workplaces where our people feel valued and motivated.

Sustainability>Health and Safety
We are committed to ensure 100% HSE and delivering a hurt-free working environment.

Sustainability>Business Sustainability
We believe that we have a responsibility to protect the health, safety and well-being of our people, minimize the consumption of resources and control emissions to ensure a sustainable ecosystem for future generations.
Investor Relations
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Strategy

Natural Resources in the UAE

Operations and Services

Drilling Technologies and Innovation
Operational and Financial Highlights

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Home Investor Relations Operational and Financial Highlights Financial Measures Balance Sheet

Balance Sheet		2018	2019	2020	2021	2022	2023
Total assets	USD million	4,657	5,422	5,478	5,096	5,493	6,740
Non-current assets	USD million	3,570	3,412	3,305	3,405	3,970	5,029
Current assets	USD million	1,087	2,010	2,172	1,691	1,523	1,712
Total equity	USD million	2,851	3,383	3,252	2,795	2,931	3,264
Total liabilities	USD million	1,806	2,039	2,226	2,301	2,562	3,476
Non-current liabilities	USD million	1,578	1,604	1,615	1,632	160	2,331
Current liabilities	USD million	229	436	611	669	2,402	1,145
Total equity and liabilities	USD million	4,657	5,422	5,478	5,096	5,493	6,740

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