Leading offshore drilling companies by revenue 2018-2019

Transocean Ltd is the largest offshore drilling contractor in the world. In 2019, the Switzerland based company made an estimated 3.1 billion U.S. dollars in revenues. This was over one billion more than the amount generated by its nearest competitor – Valaris plc, which formed out of a merger between Ensco and Rowan Companies in mid 2019. In the years presented here, all companies had seen an increase in revenues. Transocean is contractor to some of the largest oil producers worldwide – such as Royal Dutch Shell and Chevron. It was also owner of Deepwater Horizon, which had been leased to BP and was involved in the largest marine oil spill caused by the petroleum industry.

Offshore rig utilization and decommissioning

Offshore rigs are facilities built to explore, extract, process, and store petroleum and natural gas from subsea formations. Some of the risks associated with such platforms are explosions, fires, ecological disasters and endangerment of native marine species. As many rigs will reach the end of their lifecycle and resources of previously productive oilfields are depleted, the market value of offshore decommissioning worldwide is expected to increase to 8.3 billion U.S. dollars by 2024.

As of January 2020, global utilization rate of offshore rigs stood at 76.6 percent. Northwest Europe was the region with the highest utilization rate, at 86.7 percent share of the marketed oil and gas rigs in that region.

Revenue of leading offshore drilling companies within the global energy equipment and services sector from 2018 to 2019*

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Statistics on "Global oil rigs"

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