ADNOC Drilling was ADNOC’s first fully-owned subsidiary. In October 2021, the company became a publicly-traded company on ADX after its $1.1 billion IPO. The company owns 99 rigs, making it one of the largest fleets in the Middle East. It employs 8,000 people. In December 2021, the company signed a five-year $3.8 billion drilling services agreement with ADNOC Onshore for the continued provision of drilling and well services.