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ADNOC Drilling Co., a subsidiary of Abu Dhabi's state oil company ADNOC, reported a Q3 2024 net profit of $335 million, 30% higher year-on-year (YoY) driven by expansion in onshore and offshore fleets, and continued growth of the oilfield services (OFS) segment.
The driller’s Q3 revenue increased 32% YoY to $1.026 billion.
The company has now pegged its full-year 2024 net profit guidance higher at between $1.2 billion and $1.3 billion.
(Writing by Brinda Darasha; editing by Seban Scaria)
