Adnoc Drilling reported record first-quarter earnings for 2026 on Monday, posting higher revenue and profit while stating that ongoing regional tensions had caused no significant disruption to its operations or financial performance.
The Abu Dhabi-based energy services company said net profit for the January to March period rose two per cent year-on-year to $350 million, supported by strong drilling activity, long-term contracts, and growth in integrated energy services.
Revenue during the quarter increased five per cent to $1.23 billion, marking what the company described as its strongest first-quarter performance to date in both sales and earnings.
In its quarterly financial statement, Adnoc Drilling stressed that the regional conflict had not materially affected the business. The company said its continuity planning remained effective, with operational safety, workforce protection, and asset integrity continuing to be top priorities.
Chief executive Abdulla Ateya Al Messabi said the results reflected the company’s disciplined operating model and consistent execution across its expanding fleet.
“We have delivered a resilient and disciplined start to 2026,” Al Messabi said. “This performance reflects the strength of our integrated drilling and energy services model, supported by long-term contracts, high utilisation and consistent execution.”
He also credited employees for maintaining reliable operations during a period of regional uncertainty while continuing to adopt technologies designed to improve efficiency and operational performance.
The company said high fleet activity and the expansion of integrated services played a major role in driving growth during the quarter. Adnoc Drilling also pointed to technology-led delivery and new rig deployments as key contributors to its results.
As part of its shareholder returns programme, the board of directors recommended a first-quarter dividend of $262.5 million, equivalent to around six fils per share. The payment is expected to be distributed in early June to shareholders on record as of 18 May 2026.
Adnoc Drilling indicated that its outlook for the rest of the year remained positive, supported by continued development in drilling operations and the delivery of new island rigs. The company said demand for its services continues to benefit from Adnoc’s broader production capacity expansion plans.
The results come as energy companies across the Gulf closely monitor the economic effects of ongoing geopolitical tensions in the region, particularly around shipping routes and energy infrastructure. Despite these concerns, Adnoc Drilling signalled confidence in its operational resilience and long-term growth strategy.
The company delivered record-breaking financial performance in 2025 and said the opening quarter of 2026 demonstrated continued momentum across its core business areas.
