DFM Index5,848.59+1.4%

TASI11,129.20-0.6%

Emirates NBD29.36+0.7%

Dubai Electricity & Water Authority2.71+1.5%

EMAAR12.14+2.9%

EMAARDEV14.96+1.5%

ADNOC GAS3.39+1.2%

First Abu Dhabi Bank18.04+0.8%

Emirates Telecom19.00+1.1%

Abu Dhabi Commercial Bank14.08+1.3%

Boubyan Bank0.68-0.1%

GULF BANK0.34+0.3%

Commercial Bank Of Kuwait0.48-0.6%

Burgan Bank0.200.0%

QNB17.63+0.2%

Industries Qatar11.97-0.2%

Qatar Islamic Bank22.28-0.7%

Ooredoo13.59-0.1%

Qatar Index10,539.97+0.1%

DFM Index5,848.59+1.4%

TASI11,129.20-0.6%

Emirates NBD29.36+0.7%

Dubai Electricity & Water Authority2.71+1.5%

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Qatar Index10,539.97+0.1%

DFM Index5,848.59+1.4%

TASI11,129.20-0.6%

Emirates NBD29.36+0.7%

Dubai Electricity & Water Authority2.71+1.5%

EMAAR12.14+2.9%

EMAARDEV14.96+1.5%

ADNOC GAS3.39+1.2%

First Abu Dhabi Bank18.04+0.8%

Emirates Telecom19.00+1.1%

Abu Dhabi Commercial Bank14.08+1.3%

Boubyan Bank0.68-0.1%

GULF BANK0.34+0.3%

Commercial Bank Of Kuwait0.48-0.6%

Burgan Bank0.200.0%

QNB17.63+0.2%

Industries Qatar11.97-0.2%

Qatar Islamic Bank22.28-0.7%

Ooredoo13.59-0.1%

Qatar Index10,539.97+0.1%

DFM Index5,848.59+1.4%

TASI11,129.20-0.6%

Emirates NBD29.36+0.7%

Dubai Electricity & Water Authority2.71+1.5%

EMAAR

12.14

+2.9%

EMAARDEV14.96+1.5%

ADNOC GAS3.39+1.2%

First Abu Dhabi Bank18.04+0.8%

Emirates Telecom19.00+1.1%

Abu Dhabi Commercial Bank14.08+1.3%

Boubyan Bank0.68-0.1%

GULF BANK0.34+0.3%

Commercial Bank Of Kuwait0.48-0.6%

Burgan Bank0.200.0%

QNB17.63+0.2%

Industries Qatar11.97-0.2%

Qatar Islamic Bank22.28-0.7%

Ooredoo13.59-0.1%

ADNOC Drilling Completes MB Petroleum Services Joint Venture, Advancing Regional Growth Strategy | premargin

ADNOC Drilling Completes MB Petroleum Services Joint Venture, Advancing Regional Growth Strategy

·ADX·General Disclosure | General Press Release·May 4, 2026·View on exchange

AI Summary

ADNOC Drilling completed the acquisition of an 80% stake in MB Petroleum Services (MBPS) for an enterprise value of $204 million, expanding its operational presence across Oman, Kuwait, Saudi Arabia, and Bahrain.
The transaction adds 22 drilling and workover rigs to the portfolio, increasing ADNOC Drilling’s total regional joint venture rig count to 30 and its global fleet to 170 rigs.

MBPS recorded approximately $0.2 billion in revenue with an EBITDA margin of around 30% for FY 2025; results will be fully consolidated "line by line" within ADNOC Drilling’s Onshore segment starting from the May 2026 closing date.

MBPS outperformed expectations in Q1 2026 with net income growth exceeding 40% and secured four additional rig contracts in Kuwait and Oman for deployment starting in the second half of 2026.

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ADNOC Drilling Completes MB Petroleum Services Joint Venture, Advancing Regional Growth Strategy

ADNOC Drilling