ADNOC Drilling is one of the largest integrated drilling service companies in the world by rig fleet size, with a total of 137 rigs as of March 2024. In November 2023, ADNOC Drilling and Alpha Dhabi agreed to establish a strategic investment joint venture to invest up to $1.5 billion to acquire technology-enabled companies in the oilfield services and energy sectors. In June 2023, the company was awarded five 10-year contracts totaling approximately $2 billion in support of ADNOC Offshore’s growing drilling operations.