Adnoc Drilling Profit Grows 2%, Say No Financial, Operational Impact From Regional Conflict

(MENAFN- Khaleej Times) Adnoc Drilling's net profit in the first quarter of 2026 grew two per cent to $0.35 billion and stressed that there was“no material operational or financial impact” from the regional conflict.

The company delivered its strongest first-quarter performance on record in terms of revenue and net income, building on the record‐breaking performance delivered in 2025. This record start of the year was supported by high fleet activity, disciplined execution, integrated services growth, long-term contract coverage and technology‐led delivery across the fleet.

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Its revenues grew five per cent year-on-year to $1.23 billion during January-March 2026 period.

“Adnoc Drilling experienced no material operational or financial impact in the first quarter of 2026, continuity planning remains robust, with safety, people and asset integrity as the highest priorities,” it said in the quarterly financial statement.

“We have delivered a resilient and disciplined start to 2026. This performance reflects the strength of our integrated drilling and energy services model, supported by long-term contracts, high utilization and consistent execution. Our people are central to this performance, maintaining safe and reliable operations while continuing to deploy technologies that drive efficiency and value,” said Abdulla Ateya Al Messabi, CEO of Adnoc Drilling.

“As we progress through 2026, we remain focused on disciplined investment, strong cash generation and sustainable long-term returns for shareholders, while supporting Adnoc's production capacity objectives,” he added.

For 1Q 2026, the Board of Directors has recommended a dividend of $262.5 million (approximately six fils per share), expected to be paid in early June to shareholders of record as of May 18, 2026.

Adnoc Drilling said the outlook remains strong, anchored by sustained development in the drilling activity, supported by the new island rigs deliveries.

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