Adnoc Drilling, the Middle East's biggest drilling company by rig count, has reported a 21 per cent annual jump in first-half net profit as revenue climbed to a record, putting the company on track to hit its full-year growth targets.
Net income for the six months to the end of June rose to $692 million, the Abu Dhabi National Oil Company unit said on Wednesday in a filing to the Abu Dhabi Securities Exchange, where its shares trade.
Frist-half revenue jumped by more than 30 per cent on an annual basis to $2.37 billion. Earnings before interest, tax, depreciation and amortisation (Ebitda) − a key metric of profitability − grew 19 per cent year-on-year to almost $1.1 billion.
“Our record first half 2025 results once again demonstrate the strength, resilience and scaleability of Adnoc Drilling," said Abdulla Al Messabi, chief executive of Adnoc Drilling.
Adnoc Drilling's net income for the second quarter of 2025 also climbed 19 per cent to $351 million.
Revenue for the April-June period leapt 28 per cent to nearly $1.2 billion, while Ebitda gained 15 per cent to $545 million.
Those resulted in a record first half for Adnoc Drilling, as profit climbed 21 per cent to $602 million.
The company's board of directors approved a dividend of $217 million, or about Dh0.05 per share for the second quarter.
Revenue guidance
Revenue from Adnoc Drilling's oilfield services division shot up 127 per cent year-on-year to $689 million, driven by $265 million from unconventional business.
Its onshore unit's revenue rose 18 per cent annually to $1 billion, as new rigs began operations. The company's offshore segment, including jack-up and islands operations revenue, inched up 1 per cent to $671 million.
Adnoc Drilling raised the lower end of its revenue and net profit guidance for the full year, on the back of strong first-half performance.
It now expects its 2025 revenue to hit the $4.65 billion to $4.80 billion level. Revenue next year is expected to reach around $5 billion, the company said.
"With this momentum, we are firmly on track to achieving our full-year growth targets," said Mr Al Messabi, who was appointed as chief executive last month.
Adnoc Drilling is the largest integrated drilling services company in the Middle East by fleet size. It owned 142 rigs by the end of 2024, with three island rigs on order for 2026. The company expects to grow the rig count to at least 148 by the end of 2026, and to 151 by 2028.
Expansion push
The company is in the midst of expanding its portfolio and partnerships. So far in 2025, Adnoc Drilling has added about $4.8 billion in new contracts, which it says is the "strongest ever" for the period for adding backlog.
It has also continued to integrate the latest technologies − including artificial intelligence, automation and advanced analytics − to bolster its operations, and enhance efficiency, safety and reliability.
In April, it was awarded a five-year, $1.63 billion contract for integrated drilling services by Adnoc Offshore, which is expected to support its fleet use, diversify revenue streams and accelerate sustainable and long-term growth and returns.
The Abu Dhabi company also signed a joint venture agreement with global oilfield services company SLB in May for its land drilling rigs business in Kuwait and Oman, as it seeks to expand beyond the UAE.
"Adnoc Drilling has consistently demonstrated its ability to grow in any phase of the energy cycle ... we remain confident in our ability to continue delivering long-term value to our shareholders," Mr Al Messabi said.
Last year, the company teamed up with Alpha Dhabi Holding to launch Enersol, a technology-focused venture.
It aims to invest $1.5 billion in technology-driven companies in the oilfield services sector by the end of this year, the company said at the time.
Enersol has already acquired four companies and has spent $800 million out of a $1.5 billion capital expenditure earmarked through the end of 2025.
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
The biog
Marital status: Separated with two young daughters
Education: Master's degree from American Univeristy of Cairo
Favourite book: That Is How They Defeat Despair by Salwa Aladian
Favourite Motto: Their happiness is your happiness
Goal: For Nefsy to become his legacy long after he is gon
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UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
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Price: From Dh149,900
More coverage from the Future Forum
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
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Available: Now
Result
Qualifier: Islamabad United beat Karachi Kings by eight wickets
Fixtures
Tuesday, Lahore: Eliminator 1 - Peshawar Zalmi v Quetta Gladiators
Wednesday, Lahore: Eliminator 2 – Karachi Kings v Winner of Eliminator 1
Sunday, Karachi: Final – Islamabad United v Winner of Eliminator 2
England XI for second Test
Rory Burns, Keaton Jennings, Ben Stokes, Joe Root (c), Jos Buttler, Moeen Ali, Ben Foakes (wk), Sam Curran, Adil Rashid, Jack Leach, James Anderson
Women%E2%80%99s%20T20%20World%20Cup%20Qualifier
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UAE currency: the story behind the money in your pockets
Normcore explained
Something of a fashion anomaly, normcore is essentially a celebration of the unremarkable. The term was first popularised by an article in New York magazine in 2014 and has been dubbed “ugly”, “bland’ and "anti-style" by fashion writers. It’s hallmarks are comfort, a lack of pretentiousness and neutrality – it is a trend for those who would rather not stand out from the crowd. For the most part, the style is unisex, favouring loose silhouettes, thrift-shop threads, baseball caps and boyish trainers. It is important to note that normcore is not synonymous with cheapness or low quality; there are high-fashion brands, including Parisian label Vetements, that specialise in this style. Embraced by fashion-forward street-style stars around the globe, it’s uptake in the UAE has been relatively slow.
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Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
Series information
Pakistan v Dubai
First Test, Dubai International Stadium
Sun Oct 6 to Thu Oct 11
Second Test, Zayed Stadium, Abu Dhabi
Tue Oct 16 to Sat Oct 20
Play starts at 10am each day
Teams
Pakistan
1 Mohammed Hafeez, 2 Imam-ul-Haq, 3 Azhar Ali, 4 Asad Shafiq, 5 Haris Sohail, 6 Babar Azam, 7 Sarfraz Ahmed, 8 Bilal Asif, 9 Yasir Shah, 10, Mohammed Abbas, 11 Wahab Riaz or Mir Hamza
Australia
1 Usman Khawaja, 2 Aaron Finch, 3 Shaun Marsh, 4 Mitchell Marsh, 5 Travis Head, 6 Marnus Labuschagne, 7 Tim Paine, 8 Mitchell Starc, 9 Peter Siddle, 10 Nathan Lyon, 11 Jon Holland
The years Ramadan fell in May
UAE currency: the story behind the money in your pockets
