{"id":99185,"date":"2024-12-26T00:00:00","date_gmt":"2024-12-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/adnoc-drilling-jv-to-invest-usd-750-mn-in-oilfield-tech-firm-acquisitions-next-year\/"},"modified":"2024-12-26T00:00:00","modified_gmt":"2024-12-26T00:00:00","slug":"adnoc-drilling-jv-to-invest-usd-750-mn-in-oilfield-tech-firm-acquisitions-next-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/12\/26\/adnoc-drilling-jv-to-invest-usd-750-mn-in-oilfield-tech-firm-acquisitions-next-year\/","title":{"rendered":"Adnoc Drilling JV to invest USD 750 mn in oilfield tech firm acquisitions next year"},"content":{"rendered":"

Adnoc Drilling\u2019s JV with Alpha Dhabi, Enersol, plans to invest some USD 75<\/strong>0 mn in acquisitions of oilfield services tech firms in 2025<\/strong>, using up the rest of its USD 1.5 bn budget for acquisitions, Adnoc Drilling CFO Youssef Salem told EnterpriseAM UAE. The JV acquired stakes in four firms last year, including manufacturing solutions provider NTS Amega<\/a>, oil engineering firm Gordon Technologies<\/a>, Deep Well Services<\/a>, and EV Holdings<\/a> <\/p>\n

Adnoc Drilling expects to see its revenues grow 18% in the medium term<\/strong>, with plans to distribute USD 5 bn in dividends over the next five years, representing 20% of its market cap, Salem said. The company\u2019s revenues rose 28% y-o-y<\/a> to USD 2.9 bn in 9M 2024. <\/p>\n

It\u2019s also expanding to Kuwait and Oman<\/strong>, where it has been pre-qualified for operations and where the market for land rigs is three times larger than Abu Dhabi, Salem said. <\/p>\n

The company also plans to refinance USD 2 bn in term debt in 4Q 2025<\/strong> through a global syndicate of lenders, including European, American, Japanese, Middle Eastern and Chinese lenders, he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

The JV acquired stakes in four firms last year<\/p>\n","protected":false},"author":1,"featured_media":99186,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1557],"tags":[104,103,1524,7,25,266],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-99185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-adnoc-drilling","tag-alpha-dhabi","tag-enersol","tag-enterpriseam-uae","tag-investment-watch","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"7d96ebe5-a108-4388-b2db-42f6c63935b5","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/767.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Adnoc Drilling JV to invest USD 750 mn in oilfield tech firm acquisitions next year","related_issue":[99180],"teaser":"The JV acquired stakes in four firms last year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.b2b8f7a2-d478-44ca-9b36-48520266eb66.mp3"},"yoast_head":"\nAdnoc Drilling JV to invest USD 750 mn in oilfield tech firm acquisitions next year - 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