Abu Dhabi’s ADNOC Drilling net profit to grow 33% in 2022 | – #Abu #Dhabis #ADNOC #Drilling #net #profit #grow
DUBAI, Feb 13 (Reuters) – Abu Dhabi’s ADNOC Drilling ( ADNOCDRILL.AD ) reported on Monday that its 2022 net profit rose 33%, boosted by revenue from its onshore and oilfield services businesses.
Net income for 2022 was $802 million, up from $604 million a year earlier dollars organized. Income 2.27 in 2021 billion 2.67 per dollar in 2022 billion increased to dollars.
In a regulatory filing, the company said its results were largely driven by new rigs added to its operating fleet, which currently consists of 115 rigs.
The company also provided strong guidance for 2023, with revenue of 3 billion and 3.2 billion dollars It is predicted that the annual increase 20shows up to %. It said it expects record net profit of $850 million to $1 billion in the same period in 2023.
ADNOC Drilling’s Chief Financial Officer Esa Ikaheimonen said in a post-earnings call that the forecasts were driven by ADNOC Group’s plans to expand oil production by five million barrels per day by 2027 from the previous 2030 target to meet growing global energy. demand.
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“This is really at the heart of it because as a drilling company we are on a critical path in terms of achieving these goals,” Ikaheimonen told Reuters.
Ikaheimonen said the UAE’s plan to become self-sufficient in gas is another factor, with ADNOC Drilling currently drilling two rigs drilling unconventional wells.flour is working and it is “expected to increase significantly over time,” he said.
ADNOC Drilling, major shareholder ADNOC to raise 1.1 billion from investors through public share sale in 2021 dollars was listed on the Abu Dhabi Stock Exchange after attracting
Reporting by Hadeel Al Sayegh; Edited by Tom Hogue and Uttaresh.V
Our standards: Thomson Reuters Trust Principles.
2023-02-13 11:06:31
Source – reuters
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