Abu Dhabi:ADNOC Drilling Company PJSC announced a revenue of $3.7 billion for the first nine months of 2026, along with an EBITDA of $1.66 billion and a net profit of $1.07 billion.
According to Wam, the company's Board has approved a third-quarter dividend distribution totaling $350 million, which includes a base quarterly dividend of $262.5 million and the first $87.5 million tranche of a $175 million discretionary dividend. The second tranche of this discretionary dividend is pending shareholder approval, which, if granted, will increase the total expected dividend for 2026 to $1.225 billion—22.5 percent higher than in 2025.
ADNOC Drilling's results highlight the growing contribution from its higher-value service lines, such as Oilfield Services (OFS), technology-enabled solutions, and regional operations. These elements are expanding the company's earnings base and showcasing the capabilities of its Drill-to-Operate initiative. CEO Abdulla Naji Ateya Al Messabi noted that the company’s nine-month performance underscores the resilience of its revenue base and the successful execution of its growth strategies.
The company reported a 5 percent year-on-year increase in onshore drilling revenue, driven by regional operations, although this was partially offset by planned unconventional activity phasing and rig repurposing. Offshore drilling revenue saw a 4 percent increase, attributed to additional offshore capacity, including the AI-enabled island rig introduced in June 2026.
ADNOC Drilling's future growth is further supported by the deployment of its first AI-enabled automated island rigs, AD-300 and AD-301, alongside plans for four additional rigs. The company remains focused on expanding its OFS activities, which are crucial to its Drill-to-Operate strategy, enhancing value across the well lifecycle with ADNOC's upstream investment program.
Looking beyond 2026, ADNOC Drilling anticipates continued positive performance, driven by sustained drilling activity, new island rigs, OFS expansion, and regional growth opportunities.