ADNOC Drilling has named Abdulla Ateya Al Messabi as its new chief executive officer, replacing Abdulrahman Al Seiari, who will retire at the end of 2025 after more than four decades at Abu Dhabi National Oil Company (ADNOC) and its drilling unit.
The leadership handover comes amid ADNOC Drilling’s efforts to scale operations and sustain its position following its 2021 listing on the Abu Dhabi Securities Exchange, which drew $34 billion in investor demand and marked one of the UAE’s most successful IPOs.
Al Seiari, who led the company through its public offering and expansion into integrated drilling services, will stay on in an advisory role through the end of the year to support the transition, ADNOC Drilling said in a statement on Sunday.
Al Messabi previously served as CEO of ADNOC Sour Gas and ADNOC Refining, overseeing operations in upstream and downstream assets.
ADNOC Drilling, which reported a 26% rise in net profit in 2023 and has signed several major contracts with ADNOC Group entities, plays a crucial role in the UAE’s target to increase crude oil output capacity to five million barrels per day by 2027. In its latest results, the company cited growth in rig count, higher utilisation rates, and increased demand for integrated drilling services as key earnings drivers.
The company’s 2021 IPO, which raised over $1.1 billion, was part of a broader ADNOC asset monetisation strategy that included listings of ADNOC Distribution and ADNOC Gas. Since then, ADNOC Drilling has expanded its fleet to over 120 rigs and invested in AI-based drilling automation, positioning itself as a key enabler of ADNOC’s upstream ambitions.
Al Seiari’s tenure saw the company shift from a rig-leasing model to full-spectrum drilling solutions, aligning with ADNOC’s integrated energy strategy. Al Messabi is expected to continue this trajectory, particularly as ADNOC explores international partnerships and energy services expansion amid the global energy transition.
The leadership change comes ahead of ADNOC Drilling’s upcoming quarterly results, where investors will closely watch for updates on capital expenditure, rig fleet expansion, and its role in ADNOC’s decarbonisation efforts, including the deployment of lower-emission drilling technologies.
ADNOC Drilling shares were up 1.2% in early trading on Monday, extending year-to-date gains to over 30% amid rising investor confidence in the firm’s strategic direction and dividend performance.
