ADNOC Drilling has secured a five-year oilfield services contract from ADNOC Onshore, potentially worth up to $800 million. The contract starts in Q3 2025, but actual earnings will depend on the pace and extent of call-offs.

The company says this deal will boost revenues starting in 2027, while its 2025 and 2026 financial targets remain unchanged.

This is ADNOC Drilling’s fifth major contract in just over two months, adding to:

  • $1.63 billion contract for Integrated Drilling Services
  • $806 million contract for three island rigs
  • $1.15 billion contract for two jack-up rigs
  • $400 million backlog from acquisitions in Oman and Kuwait

 (Writing by Brinda Darasha; editing by Seban Scaria)  

brinda.darasha@lseg.com