ADNOC Drilling’s CEO on its strong H1 numbers and what’s next
CEO Abdulla Ateya Al Messabi talks record results, the shift from rig operator to technology-enabled energy services company, and why AI is ‘a performance story, not a technology story’
31 July, 2026
TT
16
A year into the top job, Abdulla Ateya Al Messabi keeps returning to one phrase: ADNOC Drilling does what it says it will do. The first-half 2026 results bear him out. The company posted record first-half revenue, up 4 per cent year-on-year to $2.46bn, and net profit rising 2 per cent to $706m, while sustaining an industry-leading return on equity of 34 per cent and declaring $525m in dividends over the six months.
But Al Messabi is keen to push the story beyond the headline figures. The business that listed in 2021 was, in the market’s eyes, a rig company. Today he describes something broader: a technology-enabled energy services company, with Oilfield Services as its growth engine, a widening onshore footprint across Oman and Kuwait through MBPS and SLDC, and platforms such as Enersol and Turnwell extending its reach across the well lifecycle.
The deployment of AD-300 — its first AI-enabled automated island rig, delivered ahead of schedule in June — is, he states, a signal of where the whole industry is heading.
Here, Al Messabi discusses the results, the transformation of the business, and how technology, regional expansion and unconventional development shape ADNOC Drilling’s next phase of growth.
ADNOC Drilling has reported record first-half revenue and profit. What is the main story behind these results?
The story is simple: ADNOC Drilling continues to do what it says it will do.
We delivered record revenue and profit, increased dividends and continued to grow the business. Our Oilfield Services business is expanding, our technology investments are delivering results, and our regional platform is creating new opportunities.
Most importantly, our people continue to execute safely and consistently every day. That’s what drives our performance and creates value for shareholders.
How did ADNOC Drilling perform during the period of regional uncertainty?
We remained safe, operational and focused throughout. There was no material impact on our business. Our customers depend on us to deliver, and that’s exactly what we did. The period reinforced the strength of our operating model and the dedication of our people.
How does this performance support the UAE’s broader energy security and growth objectives?
Everything starts with the well.
Whether it’s oil, gas or unconventional resources, you need to deliver wells safely, efficiently and at scale. That’s where ADNOC Drilling plays a critical role.
We are proud to support ADNOC and the UAE’s long-term energy ambitions through reliable execution and world-class capabilities.
ADNOC Drilling looks very different from the business that listed in 2021. How is the company evolving?
When we listed, many people saw ADNOC Drilling as a rig company. Today, we are building a technology-enabled energy services company.
We’re growing our Oilfield Services business, expanding regionally, investing in technology and creating new growth platforms through Enersol and Turnwell.
The goal is straightforward: create more value across the well lifecycle and build new avenues of growth for shareholders. This is a much broader business today than it was at IPO, and we’re just getting started.
Oilfield Services continues to be highlighted as a growth engine. What is changing in that business?
Oilfield Services is becoming an increasingly important part of ADNOC Drilling. We’re delivering more integrated services, expanding our capabilities and capturing more value across the well lifecycle.
That’s making the business stronger, more diversified and better positioned for long-term growth.
You have spoken about AI and automation. What does that mean in practical terms for ADNOC Drilling?
For us, AI is not a technology story. It’s a performance story. If it helps us deliver wells faster, improve safety, reduce costs and increase efficiency, it creates value. That’s how we’re using technology across the business.
Why is AD-300 important for the company and the wider industry?
AD-300 shows where our industry is going. It combines AI, automation and advanced analytics to improve efficiency and performance. It was deployed ahead of schedule and represents the next generation of energy services capability.
Read: ADNOC Drilling’s CEO on why the AD-300 rig signals an industry shift
Importantly, it’s just the first of several advanced island rigs that will support future growth.
How should investors view the dividend alongside continued investment in growth?
The dividend reflects the strength and predictability of our business. We’re growing earnings, increasing dividends and investing for future growth at the same time.
That’s exactly what our strategy is designed to deliver: strong returns today and sustainable growth tomorrow.
You have reaffirmed full-year 2026 guidance. What gives you confidence in the outlook?
We know where our growth is coming from. We have a highly contracted business, strong activity levels and growing contributions from higher-value services.
Combined with the strength of our people and our operational platform, that gives us confidence in our ability to deliver on our commitments.
What role do MBPS and SLDC play in ADNOC Drilling’s growth strategy?
They strengthen our regional platform and expand our addressable market.
Together, they provide greater scale, attractive growth opportunities and additional capabilities that complement our core business. Regional expansion is a natural extension of what we already do well.
What progress are you seeing in unconventional development, and why does it matter?
Unconventional resources represent a significant opportunity for the UAE. We’ve already delivered more than 100 wells while improving efficiency and reducing costs. That demonstrates our ability to support the next phase of the UAE’s energy growth story.
How do platforms such as Enersol and Turnwell fit into the ADNOC Drilling story?
They are helping us expand our capabilities, accelerate technology adoption and create new sources of value. Alongside Oilfield Services and regional expansion, they support a broader and more diversified earnings base.
They are an important part of our evolution into a technology-enabled energy services company.
What is your message to investors and stakeholders?
The first half shows what ADNOC Drilling does best. We execute. We grow. And we deliver on our commitments. We have record performance, clear visibility for future growth and a strong team driving the business forward.
ADNOC Drilling continues to do what it says it will do, and we remain focused on creating long-term value for our shareholders, our customers and the UAE.





















