ADNOC Drilling reports strong Q1 results, with revenue up 32% from 2024

ADNOC Drilling has announced strong financial results for the first quarter of 2025, building on its growth trajectory with a focus on strategic investments in fleet expansion, integrated services, AI and global expansion.

ADNOC Drilling’s announcement highlighted revenue of $1.17 billion in Q1 2025, up 32% year-on-year, and net profit of $341 million, up 24% year-on-year.

“The first quarter of 2025 has been more than just a strong start for ADNOC Drilling, it has demonstrated our financial resilience and laid the foundation for another year of significant growth,” said CEO Abdulrahman Abdulla Al Seiari. “We are progressing at pace on our strategic priorities, expanding our rig fleet, scaling our oilfield services offering and advancing our AI and digital capabilities. 

“As we secure new contracts and expand into strategic markets, our scale and commitment to innovation continue to enhance efficiency and performance across the business,” Seiari continued.

ADNOC Drilling noted strong segmental growth in three key aspects of its business: onshore rigs, offshore (jackups and islands) and oilfield services (OFS).

Joint ventures

ADNOC Drilling’s growth is underpinned by its bold innovation strategy, executed through its two next-generation joint ventures:

• Enersol, ADNOC Drilling’s advanced energy technology platform, successfully completed the acquisition of DWS, further scaling its portfolio of AI-driven, performance-enhancing technologies that power smarter, more sustainable drilling solutions.

• Turnwell, ADNOC Drilling’s joint venture with SLB and Patterson UTI, has delivered a step-change in UAE unconventional energy development, achieving a significant reduction in well delivery times through the deployment of DrillOps™, Advisory and Neuro advanced AI and digital tools, which utilize AI planner-enabled workflows and insights to react to real-time conditions and optimize processes based on the actual operational environment. As a result, well delivery times have been reduced to approximately 20 days with multiple wells being delivered in less than 15 days. To the end of 1Q 2025, 34 wells of the 144 well program for Phase 1 have already been drilled. Turnwell has helped ADNOC deliver a major milestone in the UAE’s energy industry with the production and treatment of the nation’s first gas produced from an “unconventional” gas reservoir at the Ruwais Diyab Concession, located 200 kilometers from Abu Dhabi

Regional expansion

ADNOC Drilling is expanding its operational reach beyond the United Arab Emirates (UAE), through pre-qualification and ongoing tenders in Oman and Kuwait, both strategic and key growth markets with strong and increasing demand for world-class drilling and energy services. These new frontiers offer diversified revenue streams and reinforce ADNOC Drilling’s leading position across the region.