17/02/2026 04:28 AST
ADNOC Drilling is positioning Oman and Kuwait at the centre of its next growth phase, with management highlighting strong opportunities to capture market share through joint ventures, technology acquisitions and expansion of oilfield services capabilities.
Speaking during a media roundtable and in an exclusive interview, Chief Financial Officer Youssef Salem said the company's immediate priorities remain focused on scaling technology platforms and deepening its regional footprint.
"So the top priority is to continue to do more under Enersol, on top of the four deals we've done, because that's effectively acquiring more technologies to expand that project portfolio," he said. "Priority number two is to use it to grab more market share in Oman and Kuwait and everything we do in general is always joint ventures."
Strong opportunity in Kuwait and Oman
Management sees both markets offering large and stable growth prospects supported by rising production capacity and expanding drilling activity.
Salem said Kuwait is entering a major expansion cycle, with production capacity set to rise toward four million barrels per day while new offshore developments and unconventional exploration are also advancing.
"Kuwait is ramping up from three to four million barrels per day of capacity. It also has one of the largest onshore rig fleets in the region, more than 200 rigs," he said. "So it's a great opportunity all around."
Oman presents similar potential, with a well-developed upstream sector supported by a mix of national and international operators.
"Oman has a very well developed industry, close to 100 onshore rigs in the country and multiple operating companies," Salem said. "So both markets for us provide a huge expansion opportunity."
Technology and AI drive efficiency gains
Technology adoption remains central to ADNOC Drilling's operational strategy, helping the company improve productivity while maintaining cost leadership across the region.
Salem said automation and artificial intelligence are increasingly embedded in drilling operations, contributing to faster well delivery and stronger financial performance.
"If you look at 2025, we were almost 10% ahead of schedule overall in terms of the number of wells drilled and drilling time," he said. "A lot of that is about technology, autonomous drilling utilising AI allows you to be more efficient."
The company's return on equity reached 35% last year, supported by cost optimisation measures and automation across operations.
Oilfield services growth strengthens integrated model
The expansion of oilfield services has played a key role in driving ADNOC Drilling's record financial performance, with the segment emerging as the fastest growing part of the business.
Emri Zeineldin, Senior Vice President of Oilfield Services, said the division has grown into a major contributor to both operational efficiency and national capability development.
"When we began in 2019 our ambition was clear, build a home-grown, world-class services capability," he said. "Today, OFS is around a $1.5 billion business delivering advanced technologies and integrated delivery models."
He added that integration and innovation have been the main drivers of growth.
"By bringing services, rigs and digital systems together under one platform, we removed traditional complexity, accelerated decision making and unlocked significant performance improvement."
Resilience amid global uncertainty
Despite geopolitical tensions and volatile energy markets, ADNOC Drilling reported uninterrupted operations across its fleet.
"We've proved we've had zero disruptions," Salem said. "This is our tenth quarter in a row where we beat consensus and we haven't had a single interruption on a single rig."
Management said future geographic expansion will remain selective, focusing on markets with stable operating environments, long-term contracts and strong payment security.
Looking ahead, ADNOC Drilling aims to expand beyond traditional oil and gas services into a broader infrastructure role supporting multiple energy resources.
"We're evolving into a fully integrated solutions provider," Salem said. "Regardless of the resource we are bringing from the ground, be it oil, gas or geothermal, we are ready to support it."
The strategy signals a long-term shift toward technology-driven services and integrated energy solutions while maintaining a strong focus on regional market leadership.
Gulfnews
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