Abu Dhabi’s ADNOC Drilling has upgraded its guidance for the financial year 2025 after delivering record third-quarter and first nine months results, driven by strong operational execution, resilient long-term contracts, and accelerated adoption of AI-powered technologies across the fleet.
Revenue for the first nine months of 2025 touched US$3.63 billion, up 27 per cent year-on-year (YoY), while EBITDA was up 15 per cent to US$1.64 billion. Net Profit jumped 17 per cent to US$1.06 billion, while Free Cash Flow was up 174 per cent to US$1.2 billion.
The company released its medium-term guidance update, increasing its FY2025 revenue from US$4.65 billion to US$4.8 billion to US$4.75 billion to US$4.85 billion. FY2026 revenue expected at approximately US$5 billion. It said FY2026 EBITDA and Net Profit will broadly in line with FY2025.
Onshore revenue climbed 13 per cent YoY to US$1.52 billion, driven by the contribution of rigs commencing operations, while Offshore (Jack-up & Islands) revenue was up 3 per cent YoY to US$1.04 billion. Oilfield Services (OFS) was the star performer as it reached revenue of US$1.07 billion, up nearly 114 per cent following a US$385 million contribution from unconventional business and increased integrated drilling services (IDS) activity.
Abdulla Ateya Al Messabi, ADNOC Drilling CEO, commented: “Our record performance in 2025 showcases the strength and resilience of our business model and disciplined execution.
“The true story is the transformational growth ahead. We are scaling unconventionals to a potential of 300+ wells annually, expanding our Integrated Drilling Services (IDS) fleet to 70 rigs and preparing for new offshore island operations by the end of the decade.
“These milestones can add billions in new revenue streams, de-risked by our in-house expertise and powered by our ambition to become AI-native. With our enhanced dividend policy targeting at least US$6.8 billion through 2030, ADNOC Drilling is setting a new global standard for reliable, growing shareholder returns.”
The Board of Directors approved a 3Q 2025 dividend of US$250 million (approximately 5.7 fils per share), payable in the second half of November 2025. The company has also announced an enhanced dividend framework, targeting at least US$6.8 billion in distributions from 2025 to 2030, which will be presented for approval at the next Annual General Assembly.
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