What ADNOC Drilling does

ADNOC Drilling Company PJSC is the largest national drilling company in the Middle East by rig fleet size, providing integrated drilling services (IDS) and oilfield services (OFS) to ADNOC Group's upstream operating companies and select regional national oil companies. Established in 1972 by Emiri Decree as ADNOC's first fully-owned subsidiary, the company operates a fleet of 170 rigs (140 owned plus 30 via joint ventures) across onshore, offshore jack-up, and offshore island segments, having drilled 12,921 wells to date. Its service portfolio spans drilling, completion, workover, directional drilling, wireline, pressure pumping, logging, and fluids services, with a growing unconventional gas business via the Turnwell Industries joint venture.

The company monetizes primarily through long-term contractual frameworks with ADNOC Group that extend through 2040 and generate double-digit IRRs over 15-year periods, with a 2025 revenue mix dominated by drilling rig rental (subscription-like), IDS managed services (30% of 2025 revenue), and OFS professional services (which grew 80% YoY to $1.46 billion). Pricing is not publicly disclosed but margins are anchored by the contractual structure: 2025 conventional EBITDA margin reached 51% with net income margin of 36%, supported by $1.47 billion in free cash flow. Technology and AI are embedded across operations, including the AD-300 AI-enabled walking island rig, a Real Time Monitoring Center overseeing 120+ sites, and 30+ AI solutions for predictive maintenance, automation, and well-duration optimization.

ADNOC Drilling pursues geographic expansion via joint ventures in Oman, Kuwait, Saudi Arabia, and Bahrain (SLDC and MBPS), technology expansion via the Enersol joint venture with Alpha Dhabi ($1.5 billion investment mandate), and unconventional resource development via Turnwell. ADNOC retains 78.5% ownership following a $935 million accelerated equity offering in May 2024. The company is publicly listed on the Abu Dhabi Securities Exchange under ticker ADNOCDRILL with a market capitalization of approximately $94 billion as of June 2026.

Name

ADNOC Drilling

Legal name

ADNOC Drilling Company PJSC

Website

https://adnocdrilling.ae

Company type

Public

Founded year

1972

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

ADNOC Drilling is the Middle East's largest national drilling company by rig fleet, providing integrated drilling and oilfield services to ADNOC Group and regional NOCs. It operates 170 rigs across onshore, offshore, and unconventional segments under long-term contracts.

Ownership category

akta.pro rank

Product category

Oil & Gas Drilling Services

NAICS

Support Activities for Oil and Gas Operations (213112)

SIC

Drilling Oil & Gas Wells (1381), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Drilling & Workover Rigs (Land & Offshore) (EUALABAA)

Keywords

• Drilling services
• Oilfield services
• Offshore drilling
• Integrated drilling services
• Onshore drilling

Headquarters

HQ city

Abu Dhabi

HQ country

United Arab Emirates

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Supply Chain

Revenue model

1. Drilling Services Revenue: Rig rental and drilling services provided to ADNOC Group companies under long-term contractual framework. Contracts provide double-digit IRRs over 15-year periods with strong downside protection. Revenue generated from onshore, offshore jackup, and island rig operations.
2. Integrated Drilling Services (IDS): Comprehensive drilling and completion solutions combining rig services with oilfield services including directional drilling, wireline, pressure pumping, logging and fluids services. IDS segment represented 30% of 2025 revenue and is a growing contributor.
3. Oilfield Services (OFS): Discrete oilfield services including directional drilling, wireline, pressure pumping, logging and fluids services. OFS revenue surged 80% in 2025 to $1.46 billion, driven by higher IDS activity and expanded delivery of services.
4. Regional Operations (Oman, Kuwait, Bahrain): Revenue from newly acquired regional operations through SLDC JV (70% stake) in Kuwait and Oman, and MBPS JV (80% stake) covering Oman, Kuwait, Saudi Arabia, and Bahrain. Regional expansion adds 30 rigs through joint ventures.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

ADNOC Drilling provides integrated drilling services (IDS) to ADNOC Group's upstream operating companies and regional national oil companies, including onshore rigs, offshore jack-up rigs, AI-enabled walking island rigs, and a full suite of oilfield services (directional drilling, wireline, pressure pumping, logging, and fluids). The company operates a 170-rig fleet across the UAE, Oman, Kuwait, Saudi Arabia, and Bahrain, generating $4.9 billion in 2025 revenue under long-term contracts that deliver double-digit IRRs over 15-year periods.

Product overview

ADNOC Drilling is an integrated tech-enabled energy services company organized around four reporting segments: Onshore, Offshore (Jack-up and Islands), Oilfield Services (OFS), and Unconventionals. The company owns and operates the largest drilling and integrated drilling services fleet in the Middle East with over 140 rigs, delivering drilling, completion, workover and integrated oilfield services across the UAE and increasingly the wider GCC. Its portfolio spans high-specification onshore rigs, jack-up offshore rigs, AI-enabled walking island rigs (AD-300), and a full OFS suite (directional drilling, wireline, pressure pumping, logging and fluids). Growth is further enabled through technology ventures (Enersol with Alpha Dhabi) and unconventionals (Turnwell JV with SLB and Patterson-UTI), while the Real Time Monitoring Center (RTMC) centralizes AI-driven monitoring of 120+ sites. The company also operates internationally through SLDC (land drilling in Kuwait and Oman) and MBPS (regional drilling across Oman, Kuwait, Saudi Arabia and Bahrain).

Differentiator

Problem solved

Functional benefit

Brands

• Enersol: Technology joint venture with Alpha Dhabi focused on accelerating innovation across oilfield and energy technologies through acquiring and scaling high-impact tech companies.
• Turnwell

Products and services

• Onshore Drilling Services
• Offshore Jack-up Drilling Services
• Offshore Island Drilling Services
• Oilfield Services (OFS)
• Turnwell (Unconventionals JV)
• Enersol (Technology JV)
• AD-300 AI-Enabled Walking Island Rig

Quantifiable outcome

• 62% increase in free cash flow to $1.47 billion in 2025
• +5 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• MB Petroleum Services (MBPS)coreStrategic or Co-development Partner · 5 November 2025ADNOC Drilling acquired 80% stake in MBPS, a joint venture with MB Holding Company, with operations in Oman, Kuwait, Saudi Arabia, and Bahrain. Enterprise value of $204 million. JV comprises 22 drilling and workover rigs, production service units, with pre-qualifications and contracts with NOCs. Transaction completed May 4, 2026. MBPS secured four additional rig contracts in Q1 2026 (three in Kuwait, one in Oman). MB Holding retains 20% stake through its subsidiary.
• MB Holding CompanycoreStrategic or Co-development Partner · 5 November 2025MB Holding Company retains 20% stake in MBPS joint venture through its subsidiary. MBPS operates under leadership of Dr. Salim Al Harthy, CEO of MBPS, ensuring continuity of management and deep regional expertise.
• SLB (SLDC Joint Venture)coreStrategic or Co-development Partner · 28 October 2025ADNOC Drilling acquired 70% stake in SLB's land drilling rigs business in Kuwait and Oman, branded as SLDC. Eight fully operational land rigs added under contract. JV enhances onshore execution capability in regional markets. SLB retains 30% stake in the joint venture.
• Turnwell Industries LLC OPCcoreStrategic or Co-development Partner · 30 September 2024Joint venture focused on AI, smart drilling design, completions engineering, and production solutions for UAE's unconventional oil and gas program. ADNOC Drilling holds 55% majority stake through ADH RSC LTD, SLB holds 30%, and Patterson-UTI holds 15%. Partnership scheduled to complete initial 144 wells by end of 2025. SLB provides integrated drilling, stimulation, project management, digital capabilities, and subsurface support. Delivered UAE's first 10,000-ft lateral unconventional gas wells in Q1 2026.
• Patterson-UTIcoreStrategic or Co-development Partner · 30 September 2024Partner in Turnwell Industries JV (15% stake) focused on unconventional drilling solutions. Brings U.S. shale efficiency models to UAE region through joint venture structure with ADNOC Drilling (55%) and SLB (30%).
• EnersolcoreStrategic or Co-development Partner · 1 January 2023Technology joint venture with Alpha Dhabi Holding to accelerate innovation across oilfield and energy technologies. $1.5 billion investment mandate to acquire and scale high-impact tech companies with patented tools and digital capabilities. Acquisitions include Deep Well Services, EV Holdings, NTS AMEGA, and increased stake in Gordon Technologies to 67.2%.
• Helmerich & PayneminorStrategic or Co-development Partner · 1 January 2021Strategic alliance formed during ADNOC Drilling IPO in October 2021. Helmerich & Payne is a major U.S.-based drilling contractor.
• Baker HughescoreStrategic or Co-development Partner · 1 January 2018Baker Hughes acquired 5% stake in 2018, enabling ADNOC Drilling to become the region's first national Integrated Drilling Services (IDS) provider. Strategic alliance added project management and oil field services capabilities.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• SLB (Schlumberger): World's largest oilfield services company providing drilling, completion, and production services globally. SLB is both a direct peer in integrated drilling services and a partner in ADNOC Drilling's SLDC and Turnwell JVs, making it the closest comparable in scale, service portfolio, and technology positioning.
• Halliburton: One of the world's largest oilfield services companies, providing drilling services, completion fluids, pressure pumping, and integrated solutions. Comparable to ADNOC Drilling in its OFS offering and integrated drilling services model, and competing in the same Middle East geographies.
• Baker Hughes: Major oilfield services and industrial energy technology company with drilling services, completions, and integrated solutions. Baker Hughes holds a 5% stake in ADNOC Drilling since 2018, making it both a peer and a strategic partner in IDS delivery.
• Patterson-UTI Energy: U.S.-based land drilling contractor with significant unconventional drilling expertise. Patterson-UTI holds 15% in the Turnwell JV with ADNOC Drilling, and is directly comparable in onshore drilling fleet operations and unconventionals technology.
• Helmerich & Payne: Largest U.S. land drilling contractor and operator of one of the most modern land drilling fleets globally. H&P formed a strategic alliance with ADNOC Drilling at its 2021 IPO and is comparable in land rig operations and drilling technology development.
• Shelf Drilling: Largest pure-play shallow-water offshore jackup drilling contractor in the Middle East, operating primarily in the Arabian Gulf. Closely comparable to ADNOC Drilling's offshore jackup rig segment in fleet composition and regional operating focus.
• Borr Drilling: Premium offshore jackup drilling contractor with a modern fleet focused on shallow-water operations. Comparable to ADNOC Drilling's jackup offshore segment in fleet profile and operating geographies including the Middle East.
• Weatherford International: Global oilfield services company providing drilling, evaluation, and completions services. Weatherford's integrated drilling services portfolio directly competes with ADNOC Drilling's OFS and IDS segments in the Middle East.

Regional players

• ADES Group: Saudi Arabia-based offshore and onshore drilling contractor operating across MENA and North Africa. ADES is a direct regional competitor with comparable jackup and land rig services serving NOCs in Egypt, Saudi Arabia, and the broader GCC.

Broad incumbents

• Saipem: Italian-based global engineering and drilling services company with significant Middle East presence. Saipem provides offshore drilling rigs and integrated drilling services comparable to ADNOC Drilling's offshore portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/adnocgroup
• Facebookfacebook.com/ADNOCGroupOfficial
• LinkedInlinkedin.com/company/adnocgroup

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ADNOC Drilling