POSITION OF STRENGTH

■ Adnoc Drilling’s IPO should garner quite a bit of overseas interest. Announcing the IPO plans, the company lists its strengths as: Well-positioned to benefit from significant demand growth driven by Adnoc’s strategic upstream targets.

■ Plan to expand rig fleet over five to 10 years with a planned net addition of 23 rigs by 2030.

■ Achieved a 36 per cent cumulative drilling performance improvement from 2018-20 and completed 86 out of 108 integrated drilling services wells ahead of schedule and below the expected budget for 2019 and 2020.

■ Fully-integrated services offering positions Adnoc Drilling to gain market share in the oilfield services space.

■ Integrated drilling solutions market share has grown from 10 per cent in 2019 to 35 per cent in 2020 and expected to increase up to 45 per cent by the end of 2021.

■ Well-placed to pursue additional opportunities for further growth in the UAE and regionally.