10 Best World’s Biggest Offshore Drilling Companies 2022-2023 Update : Current School News

10 Best World’s Biggest Offshore Drilling Companies 2022-2023 Update

Filed in Articles, Job by on June 19, 2022

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– World’s Biggest Offshore Drilling Companies –

Our post focuses on the world’s biggest offshore drilling companies and the largest companies that contribute the most to this industry, which is valued at more than $50 billion and is predicted to reach over $57 billion by 2026. Let’s get you started. 

10 Best World’s Biggest Offshore Drilling Companies 2020 Current Update

About Offshore Drilling 

Offshore drilling is a mechanical procedure. However, it involves drilling a well-bore beneath the seabed. It’s usually done to look for and then extract petroleum from rock formations beneath the seafloor.

Drilling on the continental shelf is the most typical application of the world. However, it can also refer to drilling in lakes, inshore waterways, and inland seas.

Because of the produced hydrocarbons. Also, the materials used during the drilling process, offshore drilling, poses environmental risks both offshore and onshore.

The continuing discussion in the United States over offshore drilling is one example of a contentious issue. 

10 Best World’s Biggest Offshore Drilling Companies

Below we have compiled for you a complete list of world’s biggest offshore drilling companies;

10. Valaris (Ensco Rowan) – $1.7BN

The UK-based Valaris, which used to be known as Ensco Rowan until July 2019, earned $1.7bn in revenues in 2018 to make the top 10 of our list.

This figure meant a 7.48 % increase in offshore drilling contractor’s revenue of 2017. The company operates across six continents with 73 drilling rigs.

9. Transocean – $3.01BN

Specialized in harsh-environment and deepwater drilling, the Switzerland-based Transocean made a revenue of $3.01bn in 2018 to make no. 9 on our list.

This figure tells us they increased their revenues by 1.5 % in a year. Transocean owns and operates a fleet of 48 mobile offshore drilling units that offer services for energy companies.

8. Nabors Offshore – $3.05BN

Founded in 1952, Nabors Offshore is a company that owns and operates one of the world’s largest land-based drilling rig fleets.

It also provides offshore platform rigs in the United States and many international markets. Last year, they made a revenue of $3.05bn, which meant an impressive increase of 19.2% compared to 2017.

7. China Oilfield Services Limited (COSL) – $3.17BN

China Oilfield Services Limited recorded a revenue of $3.17bn in 2018, which is a 25.36% increase over 2017, and made number 7 on our list.

The leading offshore oilfield services company in China has 51 (33 domestic and 18 international) operating drilling rigs. Although it’s operational internationally, most of the three-fourth of its revenues come from domestic operations.

6. Saipem – $4,27BN

Saipem is an esteemed company in engineering, drilling and construction of major projects in the energy and infrastructure sectors.

However, it is present in over 70 countries worldwide and has 32 thousand employees of 120 different nationalities. Specialized working in harsh environments, remote areas, and deep water, Saipem made a revenue of $4,27bn in 2018.

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5. Weatherford–$5.74BN

The Ireland-based oil and natural gas service company Weatherford is specialized in well construction, formation evaluation, well completion, and artificial lift and drilling services.

The $5.74bn revenue in 2018 meant a little increase in 2017’s revenue of $5.69bn but it was enough to make it to the top-5.

4. Petrofac–$5.83BN

Petrofac is an experienced and leading international service provider to the oil and gas production and processing industry.

Undoubtedly, providing services such as deepwater drilling, coiled tubing drilling, extended reach drilling, high-pressure, high-temperature drilling and much more in 29 countries worldwide, Petrofac’s revenue reached $5.83bn in 2018.

3. Baker Hughes–$22.9BN

Baker Hughes

The US-based Baker Hughes is one of the most famous international industrial service companies and also one of the world’s largest oil field services companies.

Undoubtedly, Baker Hughes provides products and services for oil drilling, formation evaluation, completion, production, and reservoir consulting.

Thanks to an experience of more than a decade, the company made a $22.9bn in 2018, with a 5% increase over 2017. This was almost enough to make them number 2.

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2. Halliburton– $23.99BN

The number 2 of the list, however, was another company with experience of one century: Halliburton.

The oilfield services provider based in the US and Dubai made $23.99bn in revenues in 2018. This meant an increase of %16.37 compared to 2017.

Founded in 1919, Halliburton is one of the world’s largest providers of products and services to the energy industry. However, with 60,000 employees, representing 140 nationalities in more than 80 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir.

1. Schlumberger– $32.8BN

The Us-based Schlumberger is the world’s biggest oilfield services company. They earned a record of $32.8bn in 2018, which was a 7.8% increase over their previous record-breaking 2017 revenue of $30.44bn.

However, with almost 100,000 employees representing over 140 nationalities and working in over 85 countries, Schlumberger provides products and services.

These include directional drilling, formation evaluation, well cementing and stimulation, well completion and productivity.

The company also provides consulting, IT infrastructure, and software services.

What’s your take on this? We believe this article was helpful. If yes, don’t hesitate to share this information with your friends on Facebook, Twitter, and WhatsApp.

CSN Team.

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