The drilling companies on this list were ranked according to their revenue in 2023.
The global economy has been influenced by the role played by Oil and gas companies due to its importance.
The importance of offshore drilling companies in the global economy is due to their role in the exploration, extraction, refining, transportation, and marketing of hydrocarbon-based commodities used mainly as energy sources, fueling most of the planet’s power and electricity needs.
Top 10 biggest offshore drilling companies in the world by revenue
Here is the list of the global top 10 offshore oil and gas companies according to their revenue earned in 2023;
1. Schlumberger
The company is headquartered in Paris, France and has branch offices in Houston, London and the Hague.
Schlumberger has a worldwide presence in more than 120 countries and has been operating in Nigeria for around 60 years. It generated $33.14 billion in revenue in its 2023 financial year.
2. Baker Hughes
Headquartered in Houston, US with about 54,000 professionals in its employ, BH operates in more than 120 countries.
The company recently announced its readiness to invest in Nigerian refineries, as well as participate in the forthcoming bid round for marginal oil fields in Nigeria.
Baker Hughes reported some $25.5 billion of revenue in 2023.
3. Halliburton
The company has a diverse workforce representing over 140 different nationalities in more than 75 countries across the globe.
Halliburton generated $23.02 billion in revenue in 2023.
Halliburton Testing and Subsea (TSS) Nigeria recently celebrated significant milestones which include the processing of its 10-millionth barrel of oil by an early production facility (EPF).
4. Fluor Corporation
Fluor Corporation is one of the world’s biggest offshore drilling companies and a major producer of anti-pollution products.
Fluor had a revenue of $15.5 billion in 2023 and is ranked 303 among the Fortune 500 companies.
5. China Oilfield Services Limited (COSL)
As of March 2019, COSL had a total of 51 operating drilling rigs. According to the company’s latest financial reports, it generated $6.39 billion as revenue in 2023.
6. Weatherford
Weatherford’s portfolio includes well construction, formation evaluation, well completion, and artificial lift.
Weatherford generated a total revenue of roughly $5.1 billion in 2023.
7. Nabors Offshore
Nabors, an oil, natural gas, and geothermal drilling contractor based in Bermuda provides drilling technology and equipment, offshore platform workover and drilling rigs, and comprehensive oilfield services.
Full-year 2023 operating revenue was $3.0 billion.
8. Transocean
Switzerland-based oil giant, Transocean is present in more than 30 countries across the world with major offices located in the United States, Scotland, Brazil, Malaysia, Indonesia, Norway and Nigeria.
In 2023, the Switzerland-based company reported $2.8 billion in revenues.
9. Petrofac
Petrofac offers offshore drilling services which include deep-water drilling; coiled tubing drilling; extended reach drilling; high-pressure, high-temperature (HPHT) drilling; hydraulic workover operations (HWU); and multilateral wells.
Petrofac registered revenue of $2.5 billion in 2023 compared to $2.6 billion in 2022.
10. Ensco Plc (Valaris)
Valaris, formerly known as Ensco Plc owns a diverse fleet consisting of 39 oil rigs, 13 ultra-deepwater drillships, semisubmersibles and modern jack-ups. According to Macrotrends, Valaris’ annual revenue for 2023 was $1.784 billion, a 11.34% increase from 2022.
