Oil & gas exploration and production is a complex process, which requires sophisticated technology and equipment. Oilfield services companies provide infrastructure, equipment, intellectual property and services required for the international oil & gas industry, to explore, extract, and transport crude oil & natural gas from the bottom of the earth to the refinery, and eventually to the consumer
The current state of the global oil and gas industry can be termed as “volatile.” Events, such as the increase in unconventional resource exploration in North America, economic slowdown in China, refusal of OPEC to cut production etc. have led to an oversupply of oil globally, which has led to the present mismatch in supply and demand dynamics, and consequently the price decline. New exploration and production is one sector that has faced the brunt of this slump owing to the shelving of major projects by oil companies around the world.
Furthermore, OFS industry has demonstrated the ability to be innovative and to lower costs when necessary. Producers and refiners have harnessed new technological advances, such as digitization, robotics and analytics, to squeeze out higher volumes with less investment. In doing so, oil & gas companies can confront oversupply with increased efficiency and reduced cost.
Below is the list of top 10 Oilfield & Drilling Services companies based on their revenues in 2015.
Top 10 Oilfield & Drilling Services
- Schlumberger Limited
Revenues: 35.4 billion USD
Schlumberger Limited is the world’s largest oilfield services company with revenues 35.4 billion USD in 2015. It is one of the leading suppliers of technology, integrated project management, and information solutions to customers in the oil and gas industry worldwide. The company provides a range of products and services from exploration through production. Schlumberger operates in the Americas, Europe, Africa, the Middle East, and Asia. As of December 31, 2015, the Company employed approximately 95,000 people of over 140 nationalities operating in approximately 85 countries.
Schlumberger has principal executive offices in Paris, Houston, London and The Hague.
- Halliburton Company
Halliburton Company is one of the leading providers of services and products to the upstream oil and natural gas industry. The company serves the industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. The company operates in the Americas, Europe, Africa, the Middle East, and Asia Pacific. It is headquartered in Houston, Texas, and employed 65,000 people as on December 31, 2015.
- Baker Hughes Incorporated
Revenues: 15.74 billion USD
Baker Hughes Incorporated (Baker Hughes or ‘the company’) is a supplier of oilfield services, products, technology, and systems to the worldwide oil and natural gas industry. The company also provides industrial products and services to the downstream chemicals, and process and pipeline industries. Baker Hughes operates in the Americas, Europe, Asia Pacific, Africa, and the Middle East. It is headquartered in Houston, Texas and employed 43,000 people as on December 31, 2015.
- Weatherford International plc (WFT)
Revenues: 9.43 billion USD
Weatherford International Ltd. (Weatherford or ‘the company’) is a global provider of equipment and services used for the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates in more than 100 countries. It is headquartered in Geneva, Switzerland and employed 56,000 people as on December 31, 2014.
- Transocean Ltd.
Revenues: 7.38 billion USD
Transocean Ltd. (Transocean or ‘the company’) is one of the leading international providers of offshore contract drilling services for oil and gas wells. The company operates in Europe, the UAE, Asia, and the Americas. It is headquartered in Zug, Switzerland and employed 13,100 people as on December 31, 2014.
Revenues: 4.33 billion USD
Seadrill is an offshore drilling contractor engaged in providing offshore drilling services to the oil and gas industry. It owns and operates drillships, semi-submersible rigs, jack-up rigs and tender rigs. The company operates in Bermuda, Singapore, Liberia, Cayman Islands, Hungary, Cyprus, Luxembourg, Norway, the UK, Mexico, the US, Hong Kong, British Virgin Islands, Brazil and Marshall Islands. It is headquartered in Hamilton, Bermuda and employs around 9,450 people.
- Ensco plc
Revenues: 4.06 billion USD
Ensco plc (Ensco or ‘the company’) is an international offshore contract drilling company. The company operates in the US Gulf of Mexico, Mexico, Brazil, the Mediterranean, the North Sea, the Middle East, West Africa, Australia and Southeast Asia. It is headquartered in London, the UK and employed approximately 8,500 people as on February 23, 2015.
- China Oilfield Services Limited
Revenues: RMB 23.17 billion or (3.51 billion USD)
China Oilfield Services (COSL) is engaged in the provision of offshore oilfield services. The company operates 44 drilling rigs, of which 33 are jack-up drilling rigs and 11 are semi-submersible drilling rigs, two accommodation rigs and five module rigs. It also owns and operates its fleet in offshore China, including more than 69 working vessels, three oil tankers, four chemical vessel, seven seismic vessels, seven surveying vessels, and an array of facilities and equipment for logging, drilling fluids, directional drilling, cementing and well work-over services. The company operates in the Americas, Africa, Europe, the Middle East and Asia Pacific. It is headquartered in Beijing, China and employs around 16,096 people.
- Noble Corporation plc
Revenues: 3.35 billion USD
Noble Corporation plc (Noble or ‘the company’) is one of the leading offshore drilling contractors for the oil and gas industry. The company offers contract drilling services with its fleet of mobile offshore drilling units located worldwide. Noble also owns one floating production storage and offloading unit (FPSO). The company operates in Europe, the Middle East, Africa, Asia Pacific, and the Americas. It is headquartered in London, the UK and employed 3,700 people as on December 31, 2014.
- Helmerich & Payne, Inc.
Revenues: 3.16 billion USD
Helmerich & Payne, Inc. (H&P or ‘the company’) is a holding company of Helmerich & Payne International Drilling Company. The company is engaged in contract drilling of oil and gas wells for exploration and production companies. H&P operates in North and South America, Africa, and Middle East. It is headquartered in Tulsa, Oklahoma and employed 6,738 people as on September 30, 2015.
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