The top 10 offshore drilling companies account for a significant portion of the energy generated in the form of oil and gas across the world. An offshore drilling company obtains crude oil and gasoline from the seabed and supplies to the global market. The top 10 offshore drilling companies are expected to maintain a steady growth for the period of forecast owing to the steep demand for crude oil and gas all around the world. Presently, almost 100 countries produce crude oil and gas, however, almost half of the global crude oil production comes from the top five oil-producing countries. Offshore drilling of oil had witnessed a decline in the past two decades, but recent market trends suggest there is going to be a growth for the list of offshore drilling companies due to surging prices of crude oil and high demand for fossil fuel across the globe for the coming five years.
The global market for offshore drilling of oil is estimated to surpass a value of $125 billion by the end of 2023 growing at a CAGR of more than 4.5% for the coming five years. Russia and Saudi are the two largest oil-producing countries in the world with a 13% market share for global crude oil production. The United States is the third largest oil producer with a 12% market share, followed by Iraq and Iran with a share of 6% and 5% respectively. An offshore drilling company is capable of extracting petroleum from as deep as 1,500 meters from the seabed. The top 10 offshore drilling companies registered a growth in their annual revenue in the previous financial year and they have thousands of employees with an operational presence in several countries. Here follows a comprehensive list of offshore drilling companies to give a holistic picture of the best offshore drilling companies across the world.
Top 10 Offshore Drilling Companies
1. Schlumberger
Schlumberger is the largest offshore drilling company in the world with a wide presence in over 85 countries across the globe and there are more than 100,000 professionals employed with the offshore drilling company. Schlumberger is among the top 10 offshore drilling companies and was established in the year 1926. Schlumberger was estimated to have an annual revenue of over $30 billion at the end of 2017 and is a market leader in services pertaining to offshore drilling of oil. The headquarter of this top offshore drilling company is located at Paris, France and is ranked higher than 300 in the list of Fortune Global 500 companies.
2. Halliburton
Halliburton is one of the top 10 offshore drilling companies in the world and was founded in 1919 by Erle P Halliburton. Halliburton is ranked among the largest offshore drilling company across the globe and has a presence in more than 70 countries employing over 50,000 people. Halliburton is second on the list of offshore drilling companies and has an annual revenue of around $20 billion. The primary services for offshore drilling of oil undertaken by Halliburton include measurements while drilling, directional and horizontal drilling, multilateral systems, and logging while drilling. Halliburton has its head office located at Houston, Texas, US.
3. Fluor Corporation
Fluor Corporation is a leading offshore drilling company and was founded in 1912 by John Simon Fluor at California, US. Fluor Corporation ranks at 149 in the Fortune Global list and has more than 55,000 professionals working for this largest offshore drilling company. Fluor has an estimated annual revenue of almost $19.5 billion and is the largest manufacturer of anti-pollution products in the world. In addition, Fluor is one of the top 10 offshore drilling companies in the world and is headquartered at Irving, Texas, US. Fluor has been active in developing various offshore regions in countries like Mexico, UAE, Australia, China.
4. Baker Hughes
Baker Hughes is another of the top 10 offshore drilling companies and was established by 1907 to be later bought over by the GE group in 2017. Baker Hughes is a top offshore drilling company having an annual revenue of over $17 billion at the end of 2017 and has operations in more than 120 countries across the globe. Baker Hughes, one of the largest offshore drilling company has more than 64,000 employees worldwide and is headquartered at Houston, the US. Baker Hughes is a leading name on the list of offshore drilling companies in the world and has an extensive portfolio of services related to offshore drilling for oil.
5. Transocean
Transocean was founded in 1973 with the merger of Sonat Inc with multiple companies into offshore drilling of oil. Transocean, one of the top 10 offshore drilling companies in the world has existed in over 20 countries such as Switzerland, the US, Canada, India, Indonesia, Brazil, and Singapore. Transocean is considered one of the largest offshore drilling company and owns over 60 oil drilling rigs and is headquartered at Vernier, Switzerland. Transocean is a top offshore drilling company with an annual revenue of over $7 billion and provides employment to more than 9,000 professionals across the globe.
6. Ensco Plc
Ensco Plc is another top 10 offshore drilling company in the world and is headquartered at London, UK. Ensco Plc is a leading offshore drilling company with an expansive ownership of 38 offshore drilling rigs, 12 ships for oil drilling, and 15 platform drilling rigs. Ensco Plc is one of the largest offshore drilling company with an annual revenue of around $1.8 billion in the financial year 2017 and was established in 1975 as a successor to Blocker Energy Corporation. Ensco Plc figures among the top ten companies for offshore drilling of oil and has over 5,400 employees across the globe.
7. Diamond Offshore Drilling
Diamond Offshore Drilling is the seventh largest offshore drilling company and was founded in 1989 after multiple rounds of mergers and acquisitions. Diamond Offshore Drilling has its head office at Houston, Texas, US and owns 17 rigs for offshore drilling of oil that include 4 ships for drilling and 13 platform rigs. Diamond Offshore Drilling has a global presence with offices in countries like Mexico, Brazil, Australia, Norway, and Singapore and had a revenue of $1.5 billion in 2017. Diamond Offshore Drilling is considered among the top 10 offshore drilling companies having over 2,400 employees across the globe.
8. Rowan Companies
Rowan is a reputed offshore drilling company that was incorporated in 1923 in the United Kingdom by Charles and Arch Rowan. Rowan Companies engages in the offshore drilling of oil and owns a fleet of 23 jack-up rigs and 4 drillships. Rowan Companies is presently headquartered at Texas, US and has an annual revenue of over $1.4 billion with Saudi Aramco contributing almost 30% of it in 2017. Rowan Companies is estimated to have 2,800 professionals employed and has a significant presence in over 15 countries with a stronghold in the Gulf crude oil market and Brazil.
9. Noble Corporation
Noble Corporation was founded in 1985 in the Cayman Islands and is regarded as one of the top 10 offshore drilling companies in the world. Noble Corporation was previously known as Noble Drilling Corporation and is headquartered at London, UK. Noble Corporation owns 28 rigs for offshore drilling of oil that include 14, jack-ups, 8 drillships, and 6 platform rigs. Noble Corporation had an annual revenue of almost $1.2 billion in the previous financial year and is a prominent name on the lost of offshore drilling companies in the world. Noble Corporation employs over 2,000 professionals worldwide and Royal Dutch Shell contributes almost half to its total revenue.
10. Seadrill
Seadrill is among the best offshore drilling company and is headquartered at London, UK. Seadrill is one of the largest offshore drilling company on the comprehensive list of offshore drilling companies and was established in 2005 by John Fredriksen at Hamilton, Bermuda. Seadrill is estimated to have a yearly turnover of almost $1 billion in 2017 and has operations for offshore drilling of oil in over 15 nations across the globe. Seadrill is one of the top 10 offshore drilling companies with a network of almost 5,000 professionals worldwide and owns over 50 drilling rigs which include jack0up, submersibles, and drillships.
What Lies in the Future for the Top 10 Offshore Drilling Companies
The top 10 offshore drilling companies are forecasted to record a steady growth over the next five years owing to rising demand for crude oil and gasoline across the world coupled with new offshore basins being discovered in Gulf of Thailand, Australia, and the South China Sea. The Asia Pacific market is expected to benefit out of these discoveries and is predicted to become the largest region for offshore drilling of oil. The growth of the best offshore drilling company is expected to be driven by technological advancements in oil and gas exploration and high-quality drilling equipment. Also, the largest offshore drilling companies will increasingly focus on mergers and acquisitions to fortify their market position across the globe. The surging prices of fuel globally are also likely to motivate the list of offshore drilling companies to increase their fleet size and drilling capacity to meet the growing demand for oil and gas.
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