Abu Dhabi, UAE – ADNOC Drilling Company, listed on the Abu Dhabi Securities Exchange, recorded revenues worth 9.04 billion dirhams, an increase of 4% year-on-year. Net profit increased by 2% to AED 2.59 billion year-on-year.
The return maintained equity at 34%. Dividends amounted to $525 million, supported by strong free cash flows and efficient financial management.
ADNOC Drilling reported that record returns during the second quarter and first half of 2026 were driven by the rapid growth of the oilfield services sector. Efficient implementation, and a revenue base supported by long-term contracts that provide a clear vision of future profits.
Maintaining continuity of operations
The company succeeded in maintaining the continuity of its operations during this period, supported by efficient implementation and high availability rates for its fleet. It also kept its financial guidance for 2026 unchanged based on strong performance and confidence in its business model.
The early operation of the AD-300, the first island excavator equipped with artificial intelligence technologies and advanced walking systems, reflects ADNOC Drilling’s focus on achieving sustainable, technology-enabled growth.
The rig’s entry into service, along with the deployment of five additional rigs in the coming phases, is expected to support the company’s plans to expand its naval fleet. Developing revenues and enhancing their ability to create sustainable, long-term value.
Record performance in the second quarter
ADNOC Drilling achieved record performance during the second quarter, with revenues increasing by 3% year-on-year to AED 4.52 billion. Net profit increased by 2% to reach 1.31 billion dirhams.
This outstanding performance was due to the continued growth in oilfield services, stable offshore activity, and high efficiency in implementation across all sectors. The company also maintained high operating rates for its fleet, while continuing its operations at full capacity without interruption during the quarter. This contributed to supporting strong cash flows and enhanced the flexibility and clarity of its contracted revenue base.
The board of directors of ADNOC Drilling recommended distributing dividends worth $262.5 million, “equivalent to about $6 per share,” for the second quarter of 2026. Dividends are expected to be distributed during the second half of August 2026 to shareholders registered until August 10, 2026.
With the addition of first-quarter dividends, the total approved distributions to shareholders during 2026 rise to $525 million. This represents half of the minimum annual dividend target of $1.05 billion. Which grows annually by at least 5% until at least 2030 by policy.
High revenues
In the onshore drilling services sector, revenues reached AED 3.80 billion, a 2% year-on-year increase, supported by continued operations across the UAE. In addition to the contribution of MBBS Petroleum Services and SLDC Land and Offshore Drilling Services. By operating 30 onshore excavators, most of them in both the Sultanate of Oman and the State of Kuwait.
In the marine services sector, “marine drilling and artificial islands”, revenues reached 2.60 billion dirhams, an increase of 5% year-on-year. With the contribution of new offshore drilling rigs deployed during the second half of 2025, and the conversion of an onshore drilling rig into the naval fleet.
In the oilfield services sector, revenues amounted to 2.70 billion dirhams, an increase of 5% year-on-year.
