Adnoc anticipates even better returns in 2026

• Expansion across Gulf a priority
• $43bn dividends over next 5 years
• At least 3 new offshore rigs in 2026

Abu Dhabi National Oil Company (Adnoc) is forecasting a strong 2026, underpinned by rapid fleet expansion and increased use of technology to boost efficiency, according to a senior executive at one of the energy giant’s listed subsidiaries.

The UAE’s largest oil producer said overall returns have reached a high and its six listed subsidiaries plan to distribute AED158 billion ($43 billion) in dividends between 2025 and 2030.

This amount is double the AED86 billion the subsidiaries have cumulatively paid since fuel and conveniences retailer Adnoc Distribution listed on the Abu Dhabi Securities Exchange (ADX) in 2017, Adnoc said in a statement last year.

The other listed subsidiaries are Adnoc Drilling, Adnoc Gas, Adnoc Logistics & Services, Borouge and Fertiglobe.

Adnoc Drilling’s payout to shareholders is expected to grow by roughly 5 percent a year, taking total dividends close to $7 billion over the next six years, the company’s chief financial officer Youssef Salem told AGBI in a video interview.

Salem said technology deployment will be a key driver of future growth and profitability, as the company looks to improve productivity across its operations through digitalisation and advanced drilling solutions.

Expansion across the Gulf was a central focus in 2025. Adnoc recently acquired MB Petroleum Services, adding 21 rigs to its portfolio – 13 in Oman and four each in Kuwait and Bahrain. 

It also agreed in 2025 to buy a 70 percent stake in SLB’s land drilling rigs business in Kuwait and Oman, which includes eight fully operational land rigs.

• Adnoc allocates $150bn capex for energy investments
• Adnoc supercharges gas output to fuel data centres
• Adnoc Drilling ups dividend by 15% as revenue surges

“We’re adding at least another three offshore rigs” in 2026, Salem said, highlighting continued capacity growth.

Separately, Adnoc has been stepping up investments in energy technology through Enersol, its technology investment platform formed in partnership with Alpha Dubai. 

The platform has completed four global acquisitions to date, as the group seeks to scale new technologies that can be deployed across its upstream and services businesses.

Watch the video to find out more about Adnoc’s technology strategy and its outlook for 2026