ADNOC Drilling reported an increase in its earnings

According to Amac News: ADNOC Company said in its report that the income of this company increased and reached 886 million dollars.
According to the report, the figure obtained compared to the previous year shows a 24% increase in income compared to last year.
Jack up Offshore Services and Oilfield Services (OFS) led revenue growth, up 51% and 16%, respectively, over the previous year.
The company reported in its report that EBITDA grew by 31% compared to the previous year and reached 437 million dollars.
ADNOC said that the net profit of this three months reached 275 million dollars, which has increased by 26% compared to the same period last year.
ADNOC Drilling has been awarded a $1.7 billion contract to provide drilling services and to recover unconventional energy resources.
According to the contract, ADNOC will drill 144 unconventional oil and gas wells.
ADNOC Drilling will leverage the technology pipeline of its Ebersol strategic joint venture and ADNOC's world-leading AI, digitalization and advanced technologies to help deliver energy responsibly.
ADNOC Drilling has signed an agreement with industry leaders SLB and Patterson UTI to partner and potentially support them with the latest technology, specialized services and innovations in the unconventional energy drilling space.
At the end of the first quarter of 2024, ADNOC's drilling fleet consisted of 137 rigs, 133 owned rigs plus four land-leased rigs, an increase of 22 rigs from last year.
Thirteen of the rigs in the rig count are hybrid land rigs that use battery storage to improve power transmission and reduce greenhouse gas emissions by up to 15 percent per rig.