ADNOC Drilling posts strong 9-month profit surge, outlines $6.8 billion dividend roadmap

28/10/2025 04:59 AST

The ADX-listed ADNOC entities are starting to come up with their H1-2025 financials, with ADNOC Drilling subsidiary confirming a substantial 30% gain in revenues to $2.37 billion.

The company has in the recent past been picking up a strong of projects, many tied to ADNOC's ongoing exploration works.

ADNOC Drilling secured contract additions of $4.8 billion in H1-2025. The new and existing projects is having its say on profits, with a 21% spike to $692 million.

The company will now release $217 million (around 5 fils per share) as its second quarterly dividend for 2025. It will be paid in the second-half of August 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," said a statement.

"This profile offers shareholders highly visible and growing returns."

In the year-to-date, the company's stock has gained just over 8% to trade at Dh5.77.

"With this momentum, we are firmly on track to achieving our full-year growth targets," said Abdulla Ateya Al Messabi, CEO of ADNOC Drilling.

"ADNOC Drilling has consistently demonstrated its ability to grow in any phase of the energy cycle."

New market moves
Outside of the UAE, the company decision to buy a 70% stake in the oil field services company SLB's land drilling rigs business in Kuwait and Oman is a 'natural next step'.

Once the deal is completed, 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'

This will accelerate 'expansion into key GCC geographies'.

In 2025 ADNOC Drilling added about $4.8 billion in new contracts, rated as the 'strongest ever period' for adding backlog.

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

Gulfnews