Income Statement - 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
Innovation and Growth>Delivering the World's Longest Well
At ADNOC Drilling, we break records for a reason. The world’s longest well – unlocking energy, enabling growth, driving sustainability.

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
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. We have done so by reinforcing ADNOC’s long-standing commitment to environmental and social stewardship across our areas of operation. 

Sustainability>Environment
We believe that we have a responsibility to protect the health and safety of our people, minimize the consumption of resources and control emissions to ensure a sustainable ecosystem for future generations.

Sustainability>Social Responsibility
We are committed to fostering an inclusive culture and implementing workforce diversity in recruiting, compensating, motivating, retaining, and promoting employees.

Sustainability>Governance
ADNOC Drilling has a strong corporate governance framework that is fully aligned with the SCA's corporate governance guidelines.
Investor Relations
Investor Relations Overview
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Natural Resources in the UAE

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Home Investor Relations Operational and Financial Highlights Financial Measures Income Statement

Income Statement		2018	2019	2020	2021
Revenue	USD million	1,961	2,062	2,098	2,698
Gross profit	USD million	859	797	806	884
Gross profit margin	%	44	39	38	39
EBITDA	USD million	1,072	1,015	960	1047
EBITDA margin	%	55	49	46	46
Operating profit	USD million	692	633	594	621
Operating profit margin	%	35	31	28	27
Profit for the period	USD million	685	583	569	604
Profit margin	%	35	28	27	27
Earnings per share	USD / share	0.042	0.038	0.036	0.038

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