UAE In-Focus — Abu Dhabi’s ADNOC Drilling net profit rises 33% in 2022  

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Mon, 2023-02-13 15:28

RIYADH: Abu Dhabi’s ADNOC Drilling reported a rise of 33 percent in 2022 net profit, largely driven by new rigs entering its operational fleet. 

The company’s net profit for 2022 was $802 million, up from $604 million in the previous year. Revenue increased to $2.67 billion in 2022 from $2.27 billion in 2021.  

ADNOC Drilling also presented strong guidance for 2023, with revenue projected at between $3 billion and $3.2 billion, representing year-on-year growth of up to 20 percent, according to a press release. 

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