10 Major Offshore Oil Rig Manufacturers

Offshore Oil Rig Manufacturers specialise in offshore drilling and rig construction. These rigs drill into the ocean floor to extract oil or gas and have facilities for refining and storing the products until they can be transported to shore.

The rigs are constructed in port cities and then towed to their destination. They are directly anchored to the seabed or placed on concrete or steel logs which are then anchored to the sea floor.

The revenue of offshore oil rig manufacturing is estimated to grow in the next few years. In 2024, the offshore drilling rigs market was valued at $78.27 billion, and by 2034, it is expected to touch $166.09 billion.

The factors which are driving this growth include an increased demand for oil and natural gas, new offshore discoveries, government regulations against onshore oil and gas projects, and exploration activities in untapped regions.

This increased demand has given rise to the construction of many offshore oil rigs, with enhanced safety features and advanced equipment.

Read this article to learn about Top Offshore Oil Rig Manufacturers.

1. Saipem

This Italian Company is known for its engineering and drilling expertise and the development of major projects in the energy and infrastructure sectors.

Founded in 1957, one of its main activities is building fixed platforms, with the first offshore installation being completed in 1957, the year when the company came into existence.

Saipem — Image for representation purposes only.

Since then, this oil rig manufacturer has undertaken around 100 major offshore projects in more than 60 countries, totalling almost three million tons of installed facilities.

The company strives to use sustainable methods and functional materials with a low environmental impact to design offshore platforms.

The company has 6 business lines and is present in over 50 countries with more than 30,000 employees of more than 120 nationalities.

2. Schlumberger NV

Also known as SLB, this American oilfield services company provides an extensive range of services.

It offers advanced technologies and integrated solutions to enhance drilling operations and boost production efficiency.

As of 2022, it is the world’s biggest offshore drilling company. It specialises in drilling technology, reservoir characterisation and production optimisation.

Schlumberger NV — Image for representation purposes only.

Established in 1926, and operating in more than 120 nations, it provides an array of equipment for land and offshore rigs, including drilling rigs.

Apart from manufacturing rig equipment, it also provides engineering services to optimize rig design, including customising rigs to meet operational needs and conducting training programs to ensure crew expertise on their equipment.

It also offers full lifecycle support for its equipment which includes design, manufacturing, installation and commissioning and maintenance and upgrades to ensure optimal performance of the rig throughout its life.

3. Seatrium Limited

This Singaporean State-owned company was formed in 2023 after Sembcorp Marine acquired Keppel Offshore & Marine.

The company’s products and services include rigs and floaters, offshore platforms, repairs and upgrades, and specialised shipbuilding.

Seatrium Limited — Image for representation purposes only.

It conducts business globally through its shipyard facilities in the U.K, Brazil, Singapore and Indonesia.

The oil rig manufacturer specializes in designing, engineering, constructing and commissioning offshore new buildings and conversions of FSOs, FPSOs, FPUs, FDPSOs and MOPUs, offshore oil and gas fixed platforms, including production facilities, living quarters and jackets, semisubmersibles, drillships and jack-ups.

4. Drillmec

Drillmec has designed, manufactured and distributed drilling and workover rigs which operate in over 40 countries on 5 continents. The company also provides offshore equipment for platforms, barges, semisubmersibles, drill ships and jack-ups.

The company manufactures several kinds of rigs, including their HH series offshore rigs with a
built-in hydraulic top drive that delivers maximum torque for an optimal drilling experience. They also have automated systems and centralised controls, and are lighter compared to other rigs, resulting in reduced environmental impact.

The company provides modular solutions for installing offshore platforms, from single units to a complete rig package. It also supports the installation of offshore structures like heavy lift modules and self-inserting structures. These solutions become important when barge cranes or heavy lifting becomes costly.

5. Nabors U.S. Offshore

This company is a part of Nabor Industries, a global oil and gas drilling contractor.

Nabors U.S. Offshore undertakes drilling and workover of oil and gas wells in the U.S. Gulf of Mexico, operating 37 platform rigs, 8 drilling jack-ups, 5 workover jack-ups and 3 barge rigs.

This offshore oil rig manufacturer has developed many rigs that play a key role in offshore drilling on the Gulf Coast. It developed the Sundowner and Super Sundowner rigs which have a small footprint. The company offers MASE and MODS rigs, the latter designed to withstand strong winds and waves associated with deepwater offshore drilling.

The company also offers automated offshore drilling equipment including engineering, construction, assembly, maintenance, repair, operation, directional drilling, data collection and instrumentation to support offshore drilling activities.

6. Fluor Daniel South America Limited

Fluor Corporation is an engineering, procurement, fabrication, construction and maintenance company which has served its clients for over a century. It is headquartered in Irving, Texas and has 60,000 employees.

Fluor Daniel South America Limited is a subsidiary of Fluor Corporation and serves the energy, oil and gas industry in Trinidad, Tobago and neighbouring nations.

It executes projects including offshore platforms, subsea pipelines, onshore gas facilities, offshore revamp projects and upgrading terminal facilities.

The Cannonball platform was the first ever platform fabricated in Trinidad and Fluor also designed and installed the Poinsettia Platform, which boasts the biggest topsides ever fabricated in Trinidad.

7. Helmerich & Payne

H&P, Inc. was established in 1920 and since then has become a prominent name in the drilling industry by providing its services to oil and gas production companies across the globe.

It is based in Tulsa, Oklahoma and offers innovative drilling solutions. It recently secured a major contract to supply 7 drilling rigs to Saudi Aramco.

Helmerich & Payne — Image for representation purposes only.

More than two decades ago, the company brought forward a unique rig design with a flexible drilling range and half the average moving time of a conventional rig with enhanced safety features.

This led to the development of its AC-drive FlexRig fleet, a winner of several awards. The company has integrated AI and automation to enhance the drilling process by employing automation software which ensures consistency and safety in operations.

8. HD Hyundai Heavy Industries

The company’s offshore business sector undertakes offshore projects, including their engineering, construction, transportation, installation and commissioning for various types of oil and gas production facilities in offshore oil and gas fields.

Since the 1970s, the company has delivered more than 170 projects to over 80 clients. It also delivered the world’s biggest semisubmersible drilling rig, the Ocean Great white in 2016.

The company is headquartered in Ulsan, South Korea. It was founded in 1972 and is also involved in the shipbuilding business, industrial plant and engineering and Engine & Machinery.

9. Weatherford International

This Irish company has a comprehensive portfolio which expands into many areas within the oil and gas industry, including construction, well completion, formation evaluation etc.

It also provides offshore-drilling services and equipment, rigs, drilling tools and pressure control technologies. The company aims to decrease costs, increase reservoir recovery and manage risk exposure for customers.

One of its famous offshore rigs is the Weatherford Rig-Free 35/1000, a light-duty pulling and jacking unit which can pull up to 35,000 lbs and can be used to abandon wells, pull tubing, casing and set plugs. It also has a fleet of jack-up offshore drilling rigs.

10. Dynamic Drilling

With its headquarters in Singapore, Dynamic Drilling strives to acquire, build, own and operate offshore rigs through its associates and subsidiaries with a focus on South East Asia, the Middle East, the Indian Ocean, Africa and Mexico.

The company’s senior management has operated offshore rigs since 1988. Their association with Noble Drilling in India goes back to 1988 and since 2014, the company also jointly operates rigs with Paragon Offshore.

It provides offshore drilling services, marketing, management and operation of its partners’ assets and also supervises rig construction and refurbishment procedures.

The company has operated six jack-up rigs with several contracts and a drillship. It has a presence in New Delhi, Mumbai, Abu Dhabi, Dubai, Africa and Cyprus.

Conclusion

Offshore oil rig manufacturing is dominated by several major players, some of which are mentioned in this article. As the industry evolves, these manufacturers focus on expanding their operational capacities and incorporating sustainable practices to mitigate environmental impact. They are also testing innovative technologies to construct unique designs and meet the growing energy demands in challenging environments.

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About Author

Zahra is an alumna of Miranda House, University of Delhi. She is an avid writer, possessing immaculate research and editing skills. Author of several academic papers, she has also worked as a freelance writer, producing many technical, creative and marketing pieces. A true aesthete at heart, she loves books a little more than anything else.

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