Adnoc Drilling is implementing a major growth strategy which has seen it acquire multiple companies to expand its offerings, set up new JVs with experienced partners and embark on an international expansion drive. Profits increased by 26% last year to a record $1.304bn, and it expects further growth to $1.35-1.45bn for 2025, with the trajectory continuing to point upwards (MEES, 14 February).
As it puts in place the building blocks for further growth, the firm’s Enersol JV with fellow Abu Dhabi state firm Alpha Dhabi this week completed the purchase of its fourth portfolio company, Deep Well Services, which it says “will play a role in contributing to the development of the UAE’s conventional and unconventional energy resources.” (CONTINUED – 873 WORDS)
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