ADNOC Drilling grows revenue 30% in H1 2025, books $4.8bn in new contracts
ADNOC Drilling reported record-breaking financial results for the first half of 2025, with strong growth across all business segments. The company posted a 30% year-on-year revenue increase, reaching $2.37 billion.
EBITDA rose 19% to $1.08 billion, while net profit climbed 21% to a record $692 million. The results reflect ADNOC Drilling’s operational efficiency and its growing role in delivering integrated energy services across the UAE and beyond.
CEO Abdulla Ateya Al Messabi called the results a clear demonstration of the company’s strength, resilience, and scalability. “We’re continuing to generate strong financial returns while expanding our operations and investing in new technologies,” he said. ADNOC Drilling’s board also approved a second-quarter dividend of $217 million (around 5 fils per share), scheduled for distribution in the second half of August to shareholders of record as of August 8.
Segment performance showed widespread growth. The Onshore segment delivered $1.0 billion in revenue, up 18% from the previous year, driven by new rigs entering service and increased unconventional drilling activity. The Offshore business—covering jack-up and island rigs—recorded $671 million in revenue, up slightly by 1%, with expectations of higher contributions in Q3 from two new jack-up rigs. Oilfield Services (OFS) was a standout, with revenue jumping 127% to $689 million, fueled by rising demand for integrated services and expansion into unconventional operations.
Strategically, ADNOC Drilling added $4.8 billion in new contract awards during the first half—its strongest-ever backlog build. These contracts support long-term earnings visibility and underpin the company’s aggressive growth strategy. ADNOC Drilling is also entering new regional markets through a planned acquisition of a 70% stake in SLB’s land drilling business in Kuwait and Oman, pending regulatory approval. This move will instantly establish ADNOC Drilling’s operational footprint in new Gulf Cooperation Council (GCC) countries.
Technology continues to be central to ADNOC Drilling’s operations. The company is embedding artificial intelligence, automation, and advanced analytics across its workflows. It has rolled out MEERAi, ADNOC Group’s new AI assistant, to enhance board-level decision-making. Its tech ventures—Enersol and Turnwell—are accelerating innovation in areas such as autonomous unconventional well delivery and AI-enhanced drilling performance.
As a result of its strong performance, ADNOC Drilling has tightened its 2025 full-year profit guidance, raising the lower end of its net income forecast from $1.35 billion to $1.375 billion. Revenue expectations remain unchanged, projected to fall between $4.65 billion and $4.80 billion. With momentum from fleet growth, regional expansion, and tech-driven execution, the company is well-positioned for sustained profitability and long-term value creation for shareholders.
