ADNOC Drilling earned $347 million in profit in the first quarter of 2026
Leading UAE drilling company ADNOC Drilling has reported the best first-quarter financial results in its history. Despite regional instability in the Persian Gulf area, the company’s net profit increased to $347 million, while revenue reached $1.23 billion.
The strong performance was driven by high capacity utilization and long-term contracts. Currently, the company operates the largest drilling fleet in the Middle East and North Africa region, consisting of 170 drilling rigs. A significant contribution came from the offshore extraction sector, which generated $345 million in revenue, as well as onshore operations in Oman and Kuwait.
The report also placed special emphasis on innovation. During the first quarter, the company received two new AI-equipped island drilling rigs from China. Their commissioning later this year is expected to significantly improve extraction efficiency and reduce operating costs.
Amid stable performance indicators, the company’s management approved dividend payments totaling $262.5 million. Shareholders registered before May 18 will receive payments in early June.
CEO Abdullah Said Al Suwaidi (Al-Messabi) emphasized that the integration of energy services and the expansion of international operations allow the company to maintain optimistic forecasts for the whole of 2026. Annual revenue is expected to reach $5 billion, confirming ADNOC Drilling’s status as one of the most stable players in the global energy market.
