Adnoc Drilling, a UAE-based drilling and integrated drilling services company, reported record-breaking financial results for Q2 and H1 2025.

 

The company achieved revenue of $2.37 billion, reflecting a 30 per cent year-on-year increase.

 

EBITDA reached $1.08 billion, and net profit amounted to $692 million, representing a 21 per cent year-on-year increase.

 

Additionally, Adnoc Drilling maintained strong shareholder returns and continued its regional expansion.

 

Abdulla Al Messabi, Adnoc Drilling CEO, said: “Our record first half 2025 results once again demonstrate the strength, resilience, and scalability of Adnoc Drilling. We continue to deliver outstanding financial performance, dependable shareholder returns and disciplined regional expansion, all underpinned by our commitment to deploying AI and advanced technologies. With this momentum, we are firmly on track to achieving our full-year growth targets. Adnoc Drilling has consistently demonstrated its ability to grow in any phase of the energy cycle. With high and visible cash flows, growing earnings and strong visibility of future returns, we remain confident in our ability to continue delivering long-term value to our shareholders.”

 

Second Quarterly Dividend Reinforces Shareholder Appeal

 

The Board of Directors approves the $217 million (approx. 5 fils per share) second quarterly dividend for 2025, which reaffirms the commitment to delivering reliable, growing income to shareholders, which is expected to be paid in the second half of August 2025 to all shareholders of record as of August 8, 2025.

 

With two quarterly dividends announced year-to-date, and a third one to be announced later in 2025, Adnoc Drilling offers a blend of attractive income and growth. This profile offers shareholders highly visible and growing returns, in line with its progressive dividend policy.

 

Strong Segmental Growth in 1H 2025

 

Onshore: Revenue increased by 18 per cent year-on-year to $1.0 billion, mainly due to new rigs commencing operations and a $79 million contribution from the unconventional business.

 

Offshore (Jack-up and Islands): Revenue marginally increased 1 per cent year-on-year to $671 million, mainly due to reactivation of island rigs, whereas the two new jack-ups, previously announced, will fully contribute to revenue from the third quarter.

 

Oilfield Services (OFS): Revenue increased by 127 per cent year-on-year to $689 million, driven by $265 million in revenue from unconventional business, coupled with increased integrated drilling services (IDS) activity and additional discrete services.

 

Joint Ventures Deliver Strategic Value, Advance Innovation and Unlock Resources

 

Regional Expansion in Kuwait and Oman: The Company’s entry into an agreement to acquire a 70 per cent stake in SLB's land drilling rigs business in Kuwait and Oman, is a natural next step in its growth journey and reinforces its position as one of the leading companies in drilling and integrated services.

 

Upon completion, Adnoc Drilling will gain immediate access to earnings, cashflow and returns accretive growth through two operating land drilling rigs in Kuwait and six in Oman, accelerating its expansion into key GCC geographies.

 

The formation of the joint venture (JV) and the acquisition of a 70 per cent stake, along with the completion of this transaction are subject to necessary and customary regulatory approvals.

 

Enersol – Advancing Energy Technology for the UAE: Enersol, Adnoc Drilling’s energy technology investment platform, continued its strategic momentum in 2Q 2025 by advancing local operations and deepening its technology footprint across the UAE.

 

Key developments included progress on its Abu Dhabi hub and the launch of the Enersol Energy Challenge, a first-of-its-kind initiative aimed at identifying UAE-based entrepreneurs developing transformative energy technologies.

 

Enersol has an advanced pipeline of additional transactions on top of the four acquisitions already completed.

 

Turnwell – Unlocking the UAE’s Unconventional Resources: Turnwell, Adnoc Drilling’s unconventional drilling specialist, reached new operational milestones in 2Q 2025 as it expanded its presence across the UAE’s onshore unconventional basins.

 

Turnwell successfully delivered additional high-efficiency wells and implemented new drilling techniques, including autonomous drilling, which reduced cycle times and improved safety metrics.

 

Turnwell has now drilled 58 out of the 144 wells, +40 per cent of the total wells, and fractured over 20 wells, demonstrating robust execution and setting the stage for potential future expansion as it continues to unlock new growth frontiers.

 

Derisked Long-Term Growth Delivering Market Confidence at Scale

 

In 2025 Adnoc Drilling added approximately $4.8 billion in new contracts, the strongest ever period for adding backlog.

 

These accretive wins span integrated drilling, oilfield and rig services delivering long-term earnings visibility through 2040 and beyond.

 

The Company is now the most covered stock in the MENA region, with 20 global equity research analysts providing sell side coverage.

 

Of these, as of today the vast large majority maintain a Buy rating, underscoring market conviction in the Company’s resilient growth story, strong fundamentals, and progressive dividend policy.

 

AI and Automation Continue to be Rolled Out across Adnoc Drilling

 

Adnoc Drilling continues to embed AI, automation, and advanced analytics across its operations to enhance efficiency, safety, and reliability.

 

From well planning to execution and maintenance, the Company is leveraging digital tools to optimise performance, reduce downtime and support faster, more informed decision-making.

 

At the most recent Adnoc Drilling Board of Directors meeting, MEERAi, Adnoc’s new AI tool that enables smarter and quicker executive decision making, was deployed.-OGN / TradeArabia News Service