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  • 14-02-23

    Abu Dhabi's ADNOC Drilling record 33 percent surge in net profit last year

    (MENAFN) Abu Dhabi’s ADNOC Drilling recorded a surge of 33 percent last year in net profit, massively motivated by additional rigs entering its functional fleet.

    The firm’s net profit for last year stood at USD802 million, rising from USD604 million in the prior year. Income rose to reach USD2.67 billion last year from USD2.27 billion in the year beforehand (2021).

    ADNOC Drilling also showed robust guidance for this year, with income estimated at between USD3 billion and USD3.2 billion, signifying up to 20 percent in growth on a yearly basis, as shown by a press release.

    It is estimating a peak net income this year of USD850 million to USD1 billion in the same time span, the firm stated.

    ADNOC Drilling’s Chief Financial Officer Esa Ikaheimonen asserted that in a post-earning call that the estiamtes are underpinned by ADNOC Group’s prepares to bring forward its 5 million barrel a day oil output volume growth to 2027 from a prior aim of 2030, to reach surging worldwide energy request.

    “That’s really what’s underpinning it because we as a drilling company are on a critical path in terms of achievement of those goals,” Ikaheimonen informed a news agency.

    MENAFN14022023000045014228ID1105569491

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