Adnoc Drilling Company announced the completion of its transaction to acquire an 80 per cent stake of MB Petroleum Services, a drilling and oilfield services (OFS) joint venture (JV) with MB Holding Company, with operations in Oman, Kuwait, Saudi Arabia and Bahrain.
Adnoc Drilling said it has won approval from its shareholders at the AGM for distribution of $1 billion dividends for FY 2025 and also 5% minimum increase to the 2026 payout. These approvals follow a defining year for Adnoc Drilling in which the company delivered record financial and operational performance.
Adnoc Drilling says it is monitoring regional developments and coordinating with UAE authorities to safeguard people, facilities, and operations. Business continues as normal, with no material impact on operations or finances.
ADNOC Drilling Company today announced record fourth quarter (Q4) and full year (FY) 2025 results, marking a step change in scale, technology-enabled performance and excellence in execution. The company's revenue totalled $4.9 billion, up 22% year-on-year (YoY); EBITDA was $2.2 billion, an increase of 9% YoY; and net profit hit $1.45 billion, a growth of 11% YoY.
Adnoc Drilling has entered into definitive agreement to acquire 80 per cent of MB Petroleum Services (MBPS), one of the leading drilling and oilfield services (OFS) providers in the region with operations in Oman, Kuwait, Saudi Arabia and Bahrain.
