Abu Dhabi, UAE — ADNOC Drilling Company posted a net profit of $692 million for the first half, up 21 percent year-on-year, driven by fleet expansion, rig utilization and Oilfield Services (OFS) growth.
Revenue rose 30 percent to $2.37 billion, while EBITDA increased 19 percent to $1.08 billion.
The company’s Board of Directors approved the $217 million (approx. 5 fils per share) second quarterly dividend for 2025, which reaffirms the commitment to delivering reliable, growing income to shareholders.
The dividends are expected to be paid in the second half of August 2025 to all shareholders of record as of 8th August 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.
In segmental performance during H1, the onshore revenue grew by 18 percent year-on-year to $1.0 billion, supported by the launch of new rigs and a $79 million contribution from the unconventional business.
Offshore revenues (Jack-up and Islands) rose 1 percent year-on-year to $671 million, primarily due to the reactivation of island rigs. The contribution from two new jack-up rigs, previously announced, is expected to begin in the third quarter.
OFS revenues increased by 127 percent 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.
Abdulla Ateya Al Messabi, ADNOC Drilling CEO, said, “Our record first half 2025 results once again demonstrate the strength, resilience, and scalability of ADNOC Drilling.”
