Number of oil and gas rigs by world region November 2020

North America houses the most oil rigs worldwide. As of November 2020, there were 410 land rigs in that region, with a further 12 oil rigs located offshore. These numbers are lower than in previous years and a result of the oil crisis following a slump in energy demand due to the coronavirus pandemic. The average number of operational oil rigs has seen a net decline since 2014. Oil and gas rigs can be operated on land or water and using different types include jackups, semi-submersibles and drill ships.

Offshore rigs

Alternatively, oil platforms (or offshore platforms/rigs) are structures that do any of the following: drill oil and gas wells in the ocean floor, extract and process oil and gas, or store oil and gas for short periods of time. Offshore oil platforms also often house the crew that works on them. The greatest number of offshore rigs are found in the Asia Pacific region. Offshore rigs reached a marketed utilization rate of 76.3 percent in 2019. Switzerland based Transocean Ltd is the world's leading offshore drilling contractor within the energy equipment and services sector.