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Abu Dhabi's ADNOC Drilling reported a rise of 33% in 2022 net profit, with revenue boosted by its onshore and oilfield services businesses. The company said its results were largely driven by new rigs entering its operational fleet, now consisting of 115 rigs. The company also presented strong guidance for 2023, with revenue projected at between $3 billion and $3.2 billion, representing year-on-year growth of up to 20%, and is expecting record net profit in 2023 of $850 million to $1 billion in the same period.

Abu Dhabi’s ADNOC Drilling net profit rises 33% in 2022

Abu Dhabi’s ADNOC Drilling reported a rise of 33% in 2022 net profit, with revenue boosted by its onshore and oilfield services businesses. The company said its results were largely driven by new rigs entering its operational fleet, now consisting of 115 rigs. The company also presented strong guidance for 2023, with revenue projected at between $3 billion and $3.2 billion, representing year-on-year growth of up to 20%, and is expecting record net profit in 2023 of $850 million to $1 billion in the same period.

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