Adnoc Drilling posted strong results for 2021, securing modest year-on-year growth for both revenue and profits. The Adnoc subsidiary is optimistic that it will maintain the momentum through 2022 as it grows its drilling fleet and competes for “mega-tenders” in its domestic market.
Full year revenues rose by 8.2% to $2.27bn in 2021, while net profits increased by 6.2% to $604mn (see table). Adnoc floated 11% of its drilling subsidiary last year (see chart 1), with shares trading on the ADX since 3 October (MEES, 24 September 2021). (CONTINUED - 740 WORDS)
