ADNOC Drilling Company’s net profit rose 1% to $1.072 billion in the first nine months of 2026 from $1.060 billion a year earlier, the Abu Dhabi-listed company said on Tuesday.
Revenue grew 2% to $3.707 billion, and earnings before interest, tax, depreciation and amortization (EBITDA) rose 2% to $1.663 billion, according to the company’s results statement. The EBITDA margin held at 45%.
Sky News Arabia put nine-month revenue at AED13.61 billion and net profit at AED3.93 billion.
The board approved a total third-quarter dividend of $350 million, or about 8.03 fils per share.
The payout combines a base quarterly dividend of $262.5 million with an $87.5 million first tranche of a $175 million discretionary dividend. Both are expected to be paid in the second half of November to shareholders on record as of Nov. 5.
The board endorsed a second $87.5 million tranche for shareholder approval, with payment expected in or around April 2027. If approved, the total expected dividend for 2026 would rise to $1.225 billion, 22.5% above 2025.
Onshore drilling revenue rose 5% in the nine months, helped by the consolidation of regional operations, the company said. Planned phasing of unconventional activity and the repurposing of some onshore rigs partly offset the gain.
Offshore drilling revenue climbed 4%, supported by the AI-enabled island rig added in June. A second island rig that joined the fleet in the third quarter did not contribute materially in the period, and two jack-up rigs were repurposed.
The company also launched a strategy it calls Drill-to-Operate, which aims to extend its work beyond well construction into completions, intervention, production support and maintenance across the life of a well.
“Our nine-month performance reflects the strength of ADNOC Drilling’s business model, the resilience of our highly contracted revenue base and the successful execution of our growth strategy,” said Abdulla Naji Ateya Al Messabi, the company’s chief executive officer.
