UAE's ADNOC Drilling included on FTSE indices, approves growth plan

Company set to expand market share in the oil field services segment

Image source Adnoc.

Image source Adnoc.

ADNOC Drilling, a unit of state-run energy producer Abu Dhabi National Oil Company, has been added to the FTSE Global Large Cap Index, the FTSE Emerging Index, and the FTSE All-World Index, it said in a statement.

The company's newly formed board which met last week, approved its five-year business growth plan for 2022 to 2026, as well as the 2022 budget.

The drilling company is bidding in several mega-tenders in Abu Dhabi and is also looking to expand its services portfolio and market share in the oil field services segment, it said.

ADNOC Drilling was listed on the ADX earlier this month following a $1.1 billion initial public offering in which it sold 11 percent share in the company.

(Writing by Brinda Darasha; editing by Daniel Luiz)

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