ADNOC Drilling secures $1.63bn integrated drilling services contract

ADNOC Drilling Company has been awarded a five-year integrated drilling services (IDS) contract valued at $1.63bn by ADNOC Offshore.

The award covers the provision of directional drilling, drilling fluids, cementing, wireline logging, and tubular running services.

It also includes advanced engineering and technical support to ensure effective delivery of extended reach and maximum reservoir wells offshore.

“We are immensely proud to secure this considerable award, which not only validates our strategic direction but also demonstrates the confidence ADNOC Offshore places in our capabilities,” said Abdulrahman Abdulla Al Seiari, CEO of ADNOC Drilling.

He added: “Our IDS offering delivers superior value and innovation, enabling us to play a pivotal role in reshaping the future of energy services in the region. This milestone underscores our commitment to operational excellence, and positions ADNOC Drilling as the partner of choice in an increasingly dynamic and complex energy landscape.

“This five-year award is a strong reflection of ADNOC Drilling’s long-term contracting model, which provides revenue visibility and stability over the contract period. It aligns with our disciplined approach to building a resilient business foundation, capable of generating consistent cash flow and supporting sustainable shareholder returns through the cycle.”

Tayba Al Hashemi, CEO of ADNOC Offshore, said: “ADNOC Drilling is a key enabler on our accelerated journey to responsibly meet the world’s growing energy needs. This contract gives us access to their cutting-edge capabilities and market-leading end-to-end services, which will maximise efficiency and generate significant value for our shareholders and the UAE.”

The contract supports the company’s growing oilfield services segment, and its economic impact is already included in ADNOC Drilling’s 2025 and 2026 guidance, underpinning its long-term financial targets.

ADNOC Drilling is expanding its IDS portfolio

As demand grows for advanced, high-performance energy solutions, ADNOC Drilling’s expanding IDS portfolio remains central to its strategy.

The company aims to enhance fleet utilisation, diversify revenue streams, and accelerate sustainable, long-term growth. The IDS business, a relatively new and fast-growing revenue stream, significantly enhances ADNOC Drilling’s business resilience and ability to weather industry cycles.

The company is also spearheading energy sector transformation through AI integration and technological advancement.

Its joint venture, Enersol, is an AI-centric investment platform developing a scalable technology ecosystem designed to empower its portfolio of companies, maximise synergies, and deliver added value through innovation.