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ADNOC L&S
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sitecore Content Drilling Home Investor Relations

Capitalizing on ADNOC's ambitious expansion strategy

A unique mandate and unmatched financial profile in the drilling industry​

High visibility, captive growth, substantial earnings and cash flow generation

Drilling is a strategic business of the oil and gas value chain and ADNOC Drilling is a key asset of ADNOC, the Abu Dhabi National Oil Company, whose mission is to manage the vast hydrocarbon reserves and main source of income of the Emirate of Abu Dhabi. As the sole provider of drilling services in Abu Dhabi, we benefit from a unique relationship and a contractual framework with the Group that provides us with an unmatched visibility on our long-term top line growth, returns and cash flow generation.

At the heart of the ADNOC upstream ecosystem, we have, since 1972, built an impressive track record of strong operational and financial performance. Today, as the first national integrated drilling services provider in the region, we are adding a full range of oil field services to our original drilling offering, and are in an advantageous position to serve ADNOC’s ambitious long-term plans to further increase its crude production and to unlock new unconventional gas resources.

96
owned rigs​
10000
wells delivered​
70
million feet total distance drilled​​

As long as Abu Dhabi continues to produce oil and gas, our business will continue to grow and deliver.

– Abdulrahman Al Seiari, Chief Executive Officer, ADNOC Drilling

Latest Announcement

03 October 2021

ADNOC DRILLING INITIAL PUBLIC OFFERING​

ADNOC Drilling successfully listed on the Abu Dhabi Securities Exchange on 3 October 2021. The Company’s paid-up share capital is AED 1.6 billion, divided into 16,000,000,000 shares, each with a nominal value of AED 0.10. ADNOC sold 11% of ADNOC Drilling shares at a price of AED 2.30 per share. The IPO price valued the company at $10 billion.

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Upcoming Event

10 November 2021

Q3 2021 Earnings Release

ADNOC Drilling intends to release its Financial Results for the Third Quarter and Nine Months ended Thursday, 30 September 2021 on or around Wednesday, 10 November 2021.

An Analyst & Investor Conference Call will be arranged on the same day. Details will be communicated shortly.

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Earnings conference call details

To access the audio call and participate in the Q&A session, please register ahead of time by following this link, after which your unique access details will be emailed to you:

Access Q&A

Earnings conference call details

Alternatively to access the webcast of the event, please register your details using the following link:

Register

Earnings conference call details

The webcast will remain available for playback on our website for 60 days. The presentation materials will be available for download in English on Wednesday, November 10, at 9.00am in the Downloads section of our website:

Download

Our Operations

Our Operations are organized into four reporting segments: Onshore, Offshore-Jackups, Offshore-Island and Oil Field Services (OFS).

Onshore Drilling is our largest segment generating 51.3% of 2020 Revenues with 65 land rigs.

Offshore - jackups is the second contributor to our business accounting for 28.4 % of revenues with 21 jackups and one barge.

Offshore - Island represented 9.7% of revenues in 2020 with ten island rigs. Oil Field Services, accounted for 10.6% of our revenues in 2020.

Established in 2018 to, the segment allowed ADNOC Drilling to become the first Integrated Drilling Services provider in the Middle East and is expected to grow significantly over the next decade.

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46
%
2020 EBITDA margin
27
%
2020 net margin
$
1.0
billion
2020 cash flow from operations
0.6
X
2020 net debt/EBIDTA

Dividends and Dividend Policy

Our dividend policy is designed to reflect our expectation of strong cash flow and our expected long-term earnings potential, while allowing us to retain sufficient capital to fund ongoing operating requirements and continued investment for long-term growth.
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Operational and Financial Highlights

We demonstrate superior and reliable EBITDA and net income margins compared to anyone among Onshore players, Offshore players or Oil Field Services (OFS) providers in the industry, at respectively 46% and 27% in 2020. The volatility of our historical financial performance is low.
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Reports, Presentations and Announcements

Quick access to our documents illustrating our operational and financial performance; corporate reports, presentations and regulatory announcements, since our initial listing on the Abu Dhabi Securities Exchange (ADX) on 3 October 2021.
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Stock Market Data

Trading of the ADNOC Drilling shares on the Abu Dhabi Securities Exchange (ADX) commenced on 3 October 2021 under the symbol ADNOCDRILL. The company’s paid up share capital is AED 1.6 billion (one billion six hundred million UAE dirhams) divided into 16,000,000,000 shares, each with a nominal value of AED 0.10.
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Sustainability

For nearly 50 years ADNOC Drilling has drilled wells to enable ADNOC to sustainably unlock Abu Dhabi’s oil and gas wealth for the benefit of the nation.

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Corporate Video

Corporate Governance

ADNOC Drilling has historically held a strong corporate governance framework which has matured since 2020 and further enhanced pre-IPO to be fully aligned with SCA's corporate governance guidelines.

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