Adnoc Drilling, the Middle East's largest national drilling contractor by rig count, secured awards worth more than $5 billion in 2025, extending its revenue visibility through 2040. These awards reflect strong customer confidence in the company's scale, execution quality, and long-term project delivery capabilities.

Key Contract Awards

The prominent awards include an $800 million contract for integrated hydraulic fracturing services, a $1.15 billion 15-year contract for two jack-up rigs, an $806 million contract for three island rigs, and a $1.63 billion five-year contract for integrated drilling services (IDS). The company also added a $400 million backlog from its acquisitions in Oman and Kuwait.

2025 Financial Performance

The company reported a 22% year-on-year increase in revenues to $4.9 billion for 2025. Net profit rose by 11% to $1.45 billion. This growth was driven by strong performance across all divisions.

Division Performance

The onshore drilling division achieved its highest-ever revenue of $2.04 billion, driven by the full contribution of rigs that commenced operations in the prior year and increased unconventional drilling activity. The offshore drilling business reported revenues exceeding $1.4 billion, supported by the conversion of two rigs from onshore to offshore and the commencement of two jack-up rigs in mid-2025, resulting in high fleet utilisation. Revenue from the oilfield services business grew by 80% year-on-year to $1.46 billion, fueled by higher IDS activity, additional discrete services, and a growing contribution from unconventional business.

Strategic Expansion

The company has strengthened its regional presence by closing the SLDC joint venture deal with SLB, which involves acquiring a 70% stake in SLB's land drilling rigs business in Kuwait and Oman. This acquisition includes eight operational land rigs under contract with the respective national oil companies. Furthermore, Adnoc Drilling has signed an agreement to acquire 80% of MBPS, pending regulatory approvals. With 140 rigs currently operating in the UAE, these ongoing acquisitions are set to further boost its presence in key regional markets.