Offshore Drilling Market – Top 5 Leading Companies in the World 2019

Here are 2019’s top 18 offshore drilling companies on the global stage:

Technavio's analysts forecast the global offshore drilling market to grow at a CAGR of 9.25% in terms of revenue over the period 2014-2019. Offshore drilling is a type of oil extraction in which wellbores are drilled through the seabed. It is typically carried out for the extraction of petroleum that lies in the rock formation beneath the seabed. Offshore drilling is categorized into shallow water drilling and deep-water drilling. Offshore drilling activity that takes place in a range of 0-650 feet falls under shallow water drilling, and drilling activity beyond 650 feet is categorized as deep-water drilling. The total drilling depth depends on the location of the reservoirs and the type of drilling facilities used.

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1.       Schlumberger: Schlumberger is currently topping the list of the world’s top offshore drilling companies. It is the biggest offshore drilling contractor (in terms of revenue) not just in the US but across the world has a history of science and technology innovation, backed by strategic mergers and acquisitions. From conventional to application-specific systems for geothermal wells, rigs, jack-ups, unconventional plays and more, Schlumberger’s drilling services are designed to trim down the installation time and enhance safety.

Schlumberger supplies the industry’s most comprehensive range of products and services, from exploration through production and integrated pore-to-pipeline solutions for hydrocarbon recovery that optimize reservoir performance.

2.       Halliburton : Halliburton serves the upstream oil and gas sector throughout the lifecycle of the reservoir, from locating reserves and managing geological data, to drilling evaluation, well construction, completion and production optimization through the life of the field. Offshore drilling services offered by Halliburton include horizontal and directional drilling, measurement-while-drilling, logging-while-drilling, multilateral systems, underbalanced applications and rig site information systems.

3.       Fluor Corporation: Fluor Corporation is a MNC engineering and construction firm, the largest such entity in the ‘Fortune 500’ rankings, with a listing of 149. The company specializes in engineering, procurement, and construction management services for drilling and production resources at offshore fields and other energy assets. Fluor was involved in the development of some major offshore areas such as the Enfield oil field in Australia, Nasr/Al-Nasr field development in Abu Dhabi, UAE, the Ku-Maloob-Zaap field in Mexico, and the Bohai Bay field in China.

4.       Baker Hughes: Baker Hughes specializes in drilling, production, and completion services for oil, gas and other energy industries. Offshore drilling systems offered by Baker Hughes include directional drilling services, measurement-while-drilling, coiled tubing and re-entry, logging-while-drilling, casing/liner drilling systems, drilling optimization, and remote drilling. Who Dat field in the Gulf of Mexico and the Skuld offshore field in the Norwegian Sea are some of the major offshore oil fields wherein the company offers its deep-water drilling services.

5.       Transocean Ltd. : Transocean is the world’s largest provider of offshore contract drilling services across the globe. With 140 mobile offshore drilling units, four ultra-deepwater new build units, and five high-specification jack-ups, the company’s fleet is considered one of the most versatile and modern in the world owing to its significant emphasis on technically demanding sections of the offshore drilling business.

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