Abu Dhabi – Mubasher: The net profits after tax of ADNOC Drilling Company jumped by 21% year-on-year (YoY) to $692 million in the first half (H1) of 2025 from $570 million.
The group generated revenues worth $2.36 billion as of 30 June 2025, an annual surge of 30% from $1.82 billion, according to the financial results.
Earnings per share (EPS)stood at $0.04 in the first six months (6M) of 2025, up from $0.03 in H1-24.
Results for Q2-25
In the second quarter (Q2) of 2025, ADNOC Drilling posted 19% YoY higher net profits at $351 million, compared to $295 million.
Revenues increased by 28% to $1.19 billion in Q2-25 from $935 million in Q2-24, while the EPS climbed to $0.02 from $0.01.
Quarterly, the Q2-25 profits grew by 3% from $341 million in Q1-25, while the revenues went up by 2% from $1.17 billion.
Dividends for Q2
The board members approved cash dividends amounting to $217 million, nearly 5 fils per share, for Q2-25 in line with the group’s commitment to delivering reliable, growing income to shareholders.
The cash amount is expected to be paid in the second half of August 2025 to all shareholders of record as of 8 August 2025.
The company’s strong performance was mainly driven by the full operational impact of rigs commissioned in stages over the course of last year.
ADNOC Drilling was awarded a $1.15 billion contract for two jack-up rigs by ADNOC Offshore in support of its growing offshore operations.
The contract follows existing agreements, bringing accretive rates that generate long-term revenue and attractive returns. The UAE-based company signed a deal to acquire a 70% stake in SLB's land drilling rigs business in Kuwait and Oman.
On 30 June, ADNOC Drilling announced the award of a contract valued at up to $800 million by ADNOC Onshore for the provision of integrated hydraulic fracturing services for conventional and tight reservoirs.
