ADNOC Drilling Strengthens Financial Position with $3.7 Billion Revenue in Nine-Month Period

The energy services company delivers robust earnings and announces enhanced shareholder returns, reflecting the success of its expanded service portfolio and operational efficiency gains.

ADNOC Drilling Company has reported substantial financial performance for the first nine months of 2026, with revenue reaching $3.7 billion alongside EBITDA of $1.66 billion and net profit of $1.07 billion. The results underscore the resilience of the company’s contracted revenue base and the effectiveness of its diversified growth strategy.

The Board has approved a total third-quarter dividend distribution of $350 million, equivalent to approximately 8.03 fils per share. This comprises a base quarterly dividend of $262.5 million together with the first tranche of $87.5 million from a planned $175 million discretionary dividend. Subject to shareholder approval of the second tranche, the total expected dividend for 2026 is anticipated to reach $1.225 billion, representing an increase of 22.5 percent over 2025.

The nine-month results reflect the growing contribution of higher-value service lines, particularly Oilfield Services (OFS), technology-enabled solutions and regional operations. These segments are broadening the company’s earnings foundation and creating fresh revenue streams that exemplify the capabilities underlying the Drill-to-Operate strategy. Onshore drilling revenue increased by 5 percent year-on-year, underpinned by the consolidation of regional operations, whilst offshore drilling revenue grew by 4 percent, supported by enhanced offshore capacity including the contribution of an AI-enabled island rig deployed in June 2026.

The deployment of AD-300 and AD-301, ADNOC Drilling’s inaugural AI-enabled automated island rigs, alongside four additional planned rigs, will strengthen operational efficiency and reliability whilst supporting future earnings expansion. OFS remains central to the Drill-to-Operate evolution, expanding value capture across the complete well lifecycle through integrated well construction, completions, intervention and production services.

Abdulla Naji Ateya Al Messabi, Chief Executive Officer of ADNOC Drilling, remarked that the nine-month performance demonstrates the strength of the company’s business model and the effective execution of its growth strategy. He noted that continued financial performance and strong cash generation position the company to invest in future capabilities, technologies and partnerships whilst delivering enhanced returns to shareholders through a progressive dividend policy.

The Drill-to-Operate initiative represents a natural evolution of ADNOC Drilling, building upon decades of expertise in constructing complex wells across the region. The company is extending this capability across the full well lifecycle to capture greater value from each well and expand the markets and services in which it operates. As reported in ADNOC’s AED60 billion manufacturing roadmap through 2030, the company is simultaneously advancing industrial transformation across multiple sectors.

The outlook for periods beyond 2026 remains positive, sustained by anticipated drilling activity, the delivery of new island rigs, continued OFS expansion and regional growth opportunities. The company’s strategic positioning reflects broader momentum in Abu Dhabi’s capital markets strength, demonstrating investor confidence in the emirate’s diversified economic foundation.

What it means for Abu Dhabi

ADNOC Drilling’s robust financial performance strengthens Abu Dhabi’s position as a leading energy services hub, demonstrating the viability of integrated business models that capture value across entire operational lifecycles. The company’s enhanced dividend distribution reflects its capacity to generate substantial returns for shareholders whilst simultaneously investing in advanced technologies and regional expansion, reinforcing the emirate’s appeal to institutional investors and supporting long-term economic resilience.

The deployment of AI-enabled rigs and the expansion of Oilfield Services capabilities position Abu Dhabi at the forefront of technological innovation within the global energy sector. These developments create pathways for knowledge transfer, skilled employment and industrial partnerships that extend benefits throughout the local economy, contributing to the emirate’s vision of sustainable, value-driven growth across the energy and manufacturing sectors.

Source: WAM