Oil & Gas Adnoc Drilling to pay quarterly dividends By Pramod Kumar May 8, 2025, 9:10 AM Adnoc Drilling Revenue from Adnoc Drilling's offshore segment increased 2 percent annually to $334 million Adnoc Drilling, a subsidiary of state-backed oil major Adnoc, will begin paying quarterly dividends, starting with $217 million for the first quarter of 2025. This comes as the company reported a 24 percent year-on-year jump in net profit to $341 million during the quarter ended March 2025. Revenues surged 32 percent yearly to $1.2 billion, the company said in a statement published on the Abu Dhabi Securities Exchange on Thursday. The company’s board approved quarterly dividend payouts earlier this month, setting a minimum floor of $217 million to be paid every quarter. The oil driller paid a total dividend of $788 million in 2024, representing a 10 percent year-on-year increase. The company’s onshore revenue rose 20 percent year on year to $494 million, mainly due to new rigs commencing operations and a $30 million contribution from its unconventional business. Adnoc awards rig contract to expand Zakum operations Adnoc Drilling plans further acquisitions in US and Europe Adnoc Drilling JV M&A war chest to rise to $2bn Revenue from the offshore (jack-up and islands) segment increased 2 percent annually to $334 million, driven by higher activity in island rigs. Revenue from oilfield services business surged 134 percent year on year to $342 million. Adnoc Drilling is expanding its operational reach beyond the UAE through pre-qualification and ongoing tenders in Oman and Kuwait, the statement said. Adnoc Drilling shares were trading at AED5.13 on the Abu Dhabi Stock Exchange on Wednesday having lost 3 percent in the year to date. The company’s free float rose to 16.5 percent last year after the sale of a further 5.5 percent in May. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
