Dubai: ADNOC Drilling has powered to a $801.8 million profit for 2022 against $603.91 million a year ago, helped by a slew of project wins from its parent entity. Revenues came to $2.67 billion, up from $2.26.

For 2023, ADNOC Drilling is projecting revenues to be in the $3 billion to $3.2 billion range, while capex could be around $1.3 billion to $1.75 billion. “We now expect additional capex over the coming two-year period ending 2024 between $2 billion to $2.5 billion, a net increase of some $1 billion over and above the original guidance.,” the ADX-listed company said in a statement.

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