ADNOC Drilling posts record nine-month results with revenue up 27% to $3.63bn and unveils an enhanced dividend policy targeting $6.8bn through 2030.
ADNOC Drilling has announced record financial results for the third quarter (Q3) and first nine months of 2025, underscoring its role as ADNOC’s upstream growth engine and a cornerstone of Abu Dhabi’s long-term energy security.
According to the report by Zawya, for the first nine months of 2025, ADNOC Drilling achieved revenue of $3.63 billion, up 27% year-on-year; net profit of $1.06 billion, up 17%; and free cash flow of $1.2 billion, marking a 174% increase.
Third-quarter results delivered record profitability and cash generation, driven by strong operational execution, resilient long-term contracts, and accelerated adoption of AI-powered technologies across its fleet.
The Board of Directors approved a Q3 2025 dividend of $250 million (approximately 5.7 fils per share), payable in the second half of November 2025 to shareholders of record as of 6 November 2025.
This reflects the company’s commitment to providing reliable, progressive income to investors. The Board also endorsed an enhanced dividend framework targeting at least $6.8 billion in distributions between 2025 and 2030. The plan, to be presented for approval at the next Annual General Assembly, aims for a 27% uplift in 2025 and a minimum 5% annual increase thereafter.
ADNOC Drilling’s operational performance remained strong across all business segments. Onshore revenue reached $1.52 billion, up 13% year-on-year, driven by new rigs commencing operations and higher contribution from the unconventional business. Offshore operations, including jack-ups and island rigs, generated $1.04 billion in revenue, up 3% from the previous year, supported by the reactivation of island rigs and new jack-ups entering service. Oilfield Services revenue climbed 114% year-on-year to $1.07 billion, underpinned by increased unconventional activity, the expansion of Integrated Drilling Services (IDS), and additional discrete services.
Strategic progress continues to define ADNOC Drilling’s growth trajectory. The company is building scalable, repeatable unconventional workflows with the potential to deliver more than 300 wells annually. It also plans to expand its IDS fleet to approximately 70 rigs by the end of 2026, establishing ADNOC Drilling as one of the world’s leading integrated drilling services providers.
The company’s regional expansion strategy includes entry into Kuwait and Oman through the SLB joint venture (SLDC), subject to customary closing conditions and regulatory approvals. ADNOC Drilling is also accelerating its transition to an AI-native company, deploying predictive maintenance, autonomous rig moves, and intelligent workflows to enhance safety and efficiency.
Looking ahead, Zawya reported that new offshore island rigs are expected to commence operations between 2029 and 2030, further supporting long-term offshore development and earnings visibility. Together, these initiatives are designed to combine record financial performance with sustainable growth, positioning ADNOC Drilling as the region’s premier growth engine.
Abdulla Ateya Al Messabi, CEO of ADNOC Drilling, said: “Our record performance in 2025 showcases the strength and resilience of our business model and disciplined execution. The true story is the transformational growth ahead; we are scaling unconventionals to a potential of 300+ wells annually, expanding our Integrated Drilling Services (IDS) fleet to 70 rigs, and preparing for new offshore island operations by the end of the decade. These milestones can add billions in new revenue streams, de-risked by our in-house expertise and powered by our ambition to become AI-native. With our enhanced dividend policy targeting at least $6.8 billion through 2030, ADNOC Drilling is setting a new global standard for reliable, growing shareholder returns.”
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