ADNOC Drilling Announces 2026 Nine-Month Results

Strong nine-month revenue, EBITDA and net income support a $350 million 3Q dividend distribution, equivalent to 8 fils per share

First $87.5 million tranche of a $175 million discretionary dividend to be paid this quarter, subject to shareholder approval of the second tranche, the total expected 2026 annual dividend increases to $1.225 billion

Launch of Drill-to-Operate strategy expands ADNOC Drilling’s participation across the full well lifecycle and unlocks new pathways for long-term growth

Oilfield Services, technology-enabled solutions and regional expansion broaden the earnings base and support growth 

Abu Dhabi, UAE – October 27, 2026: ADNOC Drilling Company PJSC (“ADNOC Drilling” or the “Company”) (ADX symbol: ADNOCDRILL / ISIN: AEA007301012) today reported revenue of $3.7 billion, EBITDA of $1.66 billion and net profit of $1.07 billion for the first nine months of 2026. Reflecting the Company’s strong performance, cash generation and confidence in its outlook, the Board approved a total third-quarter dividend distribution of $350 million (approximately 8.03 fils per share). This comprises the base quarterly dividend of $262.5 million and the first $87.5 million tranche of a $175 million discretionary dividend that the Company intends to distribute in two tranches, with the second tranche subject to shareholder approval. The Company also launched Drill-to-Operate, the next phase of its growth strategy, designed to expand participation across the full well lifecycle, increase value captured from every well and unlock access to larger addressable markets.

The results reflect the growing contribution of higher-value service lines, including Oilfield Services (OFS), technology-enabled solutions and regional operations. These growth engines are broadening the Company’s earnings base, adding new revenue streams and demonstrating the capabilities underpinning Drill-to-Operate.

Drilling remains the foundation of ADNOC Drilling’s business. Drill-to-Operate extends the Company’s role beyond well construction into the services required throughout the well lifecycle - from planning and construction to completions, intervention, production support, maintenance and optimization. Greater participation across these stages will deepen customer relationships, broaden the addressable market and increase the value captured from each well over time.

Nine-Month 2026 Performance

Key achievements:

• Record nine-month revenue ($3.7 billion), EBITDA ($1.66 billion) and net profit ($1.07 billion) 


• Board approves a 3Q base dividend of $262.5 million expected to be paid in the second half of November 2026 to all shareholders on record as of November 5, 2026


• The Board has approved the first tranche of US$87.5 million of a US$175 million discretionary dividend that the Company intends to distribute in two equal tranches of US$87.5 million each. The first tranche is expected to be paid in the second half of November 2026 to all shareholders on record as of 5 November 2026. The Board has also endorsed the second tranche for shareholder approval, subject to such approval, such tranche is expected to be paid in or around April 2027. Subject to shareholder approval of the second tranche, total expected dividend in respect of 2026 of $1.225 billion, 22.5% higher than 2025


• New Drill-to-Operate strategy expands participation across the full well lifecycle

The nine-month results and continued third-quarter momentum show the Company’s growth strategy taking shape. Expansion in OFS, technology-enabled services, unconventional development, regional operations and strategic partnerships is diversifying earnings and providing early evidence of the opportunities underpinning Drill-to-Operate.

Abdulla Naji Ateya Al Messabi, ADNOC Drilling CEO, said: “Our nine-month performance reflects the strength of ADNOC Drilling’s business model, the resilience of our highly contracted revenue base and the successful execution of our growth strategy. We continue to deliver consistent financial performance while investing in the capabilities, technologies and partnerships that will support the next phase of our growth.

“Our continued performance and strong cash generation enable us to invest in future growth while delivering enhanced shareholder returns through our progressive dividend policy, including a $175 million discretionary dividend, the first tranche of which will be paid this quarter.

“The launch of Drill-to-Operate is a natural evolution of ADNOC Drilling. For decades, we have been trusted to construct some of the region’s most complex wells. We are now extending that capability across the full well lifecycle to capture more value from every well and expand the markets and services in which we operate.

“Through Oilfield Services, Turnwell, Enersol, regional expansion and AI-enabled technologies, we are building a broader, more diversified energy services business, creating new pathways for sustainable growth while continuing to deliver attractive returns for shareholders.” 

Dividend Framework and Shareholder Returns

The Board of Directors approved a total dividend distribution of US$350 million (approximately 8.03 fils per share) in respect of the third quarter of 2026, comprising the base quarterly dividend of US$262.5 million and the first US$87.5 million tranche of a US$175 million discretionary dividend, that the Company intends to distribute in two tranches. The base quarterly dividend and the first tranche of the discretionary dividend are expected to be paid in the second half of November 2026 to all shareholders on record as of 5 November 2026. The Board has also endorsed the second US$87.5 million tranche of the discretionary dividend for shareholder approval, subject to such approval, payment is expected in or around April 2027.

Strong performance and free cash flow give ADNOC Drilling the capacity to fund future growth while enhancing shareholder returns. The discretionary dividend reflects disciplined capital allocation and the Board’s confidence in the Company’s cash generation and long-term outlook. Subject to shareholder approval of the second tranche, it increases the total expected dividend in respect of 2026 to $1.225 billion, 22.5% above 2025. 
 
ADNOC Drilling’s progressive dividend framework includes an annual dividend floor of $1.05 billion in 2026, increasing by a minimum of 5% per year through at least 2030. Supported by strong free cash flow, disciplined capital allocation and a highly contracted revenue base, the framework provides investors with both income visibility and long-term growth potential. 

Launching the Drill-to-Operate Strategy

ADNOC Drilling’s Drill-to-Operate strategy sets out a clear roadmap to expand the value captured across the full well lifecycle. It is not a change in direction, but the next phase of a strategy built over several years through OFS, Integrated Drilling Services, Turnwell, Enersol and strategic regional partnerships.

The strategy is built on four reinforcing growth drivers: sustained long-term activity supporting well delivery; integrated services that increase value capture from each well; AI-enabled technology and advanced engineering that improve productivity and well economics; and regional partnerships that provide access to new customers, markets and revenue streams.

Enersol expanded its portfolio companies, reinforcing the role of technology and innovation as strategic growth enablers. At the same time, regional operations were consolidated and started contributing financially, demonstrating the impact of regional partnerships and the Company’s ability to unlock new markets and revenue streams. Together, these milestones illustrate how the Drill-to-Operate strategy is translating into diversified growth and creating multiple pathways for long-term value creation.

Key Financial Metrics