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.
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.
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.
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.
Fluor Corporation is headquartered in Irving, Texas and has 60,000 employees. Fluor Daniel South America Limited, a subsidiary of Fluor Corporation, serves the energy, oil, and gas industry in Trinidad, Tobago, and neighboring nations. The company executes projects such as offshore platforms, subsea pipelines, onshore gas facilities, offshore revamp projects, and upgrading terminal facilities.
Helmerich & Payne, based in Tulsa, Oklahoma, offers innovative drilling solutions and recently secured a major contract to supply 7 drilling rigs to Saudi Aramco. The company introduced a unique rig design with enhanced safety features, leading to the development of its AC-drive FlexRig fleet.
HD Hyundai Heavy Industries, headquartered in Ulsan, South Korea, undertakes offshore projects including engineering, construction, transportation, installation, and commissioning for various types of oil and gas production facilities. The company has delivered over 170 projects to more than 80 clients and built the world’s biggest semisubmersible drilling rig, the Ocean Great White.
Weatherford International, an Irish company, has a comprehensive portfolio in the oil and gas industry, providing construction, well completion, and formation evaluation services. The company also offers offshore drilling services, rigs, drilling tools, and pressure control technologies to decrease costs and manage risk exposure for customers.
Dynamic Drilling, with its headquarters in Singapore, focuses on acquiring, building, owning, and operating offshore rigs in regions like South East Asia, the Middle East, and Africa. The company’s senior management has extensive experience in operating offshore rigs, and it also supervises rig construction and refurbishment procedures.
In conclusion, the offshore oil rig manufacturing industry is dominated by major players like Fluor Corporation, Helmerich & Payne, HD Hyundai Heavy Industries, Weatherford International, and Dynamic Drilling. These companies are expanding their operational capacities, incorporating sustainable practices, and testing innovative technologies to meet the growing energy demands in challenging environments. different words while keeping the same meaning:
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