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ADNOC Drilling Company PJSC has confirmed shareholders\u2019 approval for all agenda items at its Annual General Meeting, including the final cash dividend payment for the year ended December 31, 2024.<\/p>\n\n\n\n
The company reported a significant increase in full-year revenue, reaching a record $4.034 billion, marking a 32% year-on-year growth. EBITDA also hit a record high of $2.01 billion, up 36% from the previous year. ADNOC Drilling\u2019s net profit for 2024 more than doubled since its listing on the Abu Dhabi Securities Exchange (ADX) in 2021, reaching $1.30 billion.<\/p>\n\n\n\n
Abdulrahman Abdulla Al Seiari, CEO of ADNOC Drilling, commented, \u201cOur record-breaking financial performance and dividend reflect ADNOC Drilling\u2019s strong momentum as the world\u2019s fastest-growing energy services company. With a 10% increase in the 2024 dividend to $788 million, and a commitment to further increases in the coming years, we continue to deliver exceptional value to our shareholders.\u201d<\/p>\n\n\n\n
The 2024 final cash dividend payment amounts to $394 million (approximately 9.05 fils per share), bringing the total dividend for 2024 to $788 million (approximately 18.1 fils per share), a 10% increase from 2023. The dividend will be paid on or around April 11, 2025, to shareholders on record as of March 27, 2025.<\/p>\n\n\n\n
Looking ahead, ADNOC Drilling plans to increase its dividend further to at least $867 million in 2025, with a target of $1.15 billion by 2028, based on the company\u2019s progressive dividend policy.<\/p>\n\n\n\n
The company\u2019s growth trajectory is supported by its fleet expansion, with a projected rig count of over 148 by 2026 and more than 151 by 2028. ADNOC Drilling is also introducing AI-powered rigs to enhance efficiency in its oilfield services, positioning the company for even greater success in the future.<\/p>\n\n\n\n
In addition to its regional expansion, ADNOC Drilling\u2019s joint ventures, including Enersol and Turnwell, are driving technological advancements and contributing to the development of unconventional energy resources in Abu Dhabi. Enersol, a partnership with Alpha Dhabi, has acquired majority stakes in four tech-enabled oilfield service companies, while Turnwell, a joint venture with SLB and Patterson-UTI, continues to deliver accelerated well completions.<\/p>\n\n\n\n
For 2025, ADNOC Drilling has provided a strong guidance forecast, expecting total revenue between $4.6 billion and $4.8 billion, with EBITDA ranging from $2.15 billion to $2.3 billion. Net profit is anticipated to be between $1.35 billion and $1.45 billion.<\/p>\n\n\n\n
The company also expects CapEx between $0.35 billion and $0.55 billion, with free cash flow projected to range from $1.3 billion to $1.6 billion. ADNOC Drilling aims to maintain a conservative leverage target of up to 2.0x Net Debt\/EBITDA.<\/p>\n\n\n\n
With a projected medium-term revenue of around $5 billion in 2026, ADNOC Drilling is poised for sustained growth and profitability, with a focus on maximizing shareholder returns while expanding its operational capacity.<\/p>\n\n\n\n
Key Financial Highlights:<\/strong><\/p>\n\n\n\n With its strong financial performance and forward-looking strategies, ADNOC Drilling is set to continue driving efficiency, innovation, and long-term growth in the energy sector.<\/p>\n","protected":false},"excerpt":{"rendered":" ADNOC Drilling Company PJSC has confirmed shareholders\u2019 approval for all […]<\/p>\n","protected":false},"author":55,"featured_media":91424,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[9653,9624],"tags":[],"contributor":[9732],"class_list":["post-91423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy-industry-news","category-smart-sectors","contributor-news-desk"],"featured_image_src":"https:\/\/techxmedia.com\/en\/wp-content\/uploads\/2025\/03\/adnoc-35.jpg","author_info":{"display_name":"M","author_link":"https:\/\/techxmedia.com\/en\/author\/muhsin_tech\/"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/posts\/91423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/users\/55"}],"replies":[{"embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/comments?post=91423"}],"version-history":[{"count":0,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/posts\/91423\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/media\/91424"}],"wp:attachment":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/media?parent=91423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/categories?post=91423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/tags?post=91423"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/contributor?post=91423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n