Global oil and gas rig count November 2024, by region

North America hosts the most oil and gas rigs worldwide. As of November 2024, there were 773 land rigs in that region, with a further 16 rigs located offshore. The average number of global oil rigs increased to more than 1,800 units in 2023.

Offshore rigs and their utilization

Oil platforms or rigs are structures that do any of the following: drill oil and gas wells, extract and process oil and gas, or store oil and gas for short periods of time. The various rig types include jackups, semi-submersibles, and drill ships. Offshore oil platforms also often house the crew that works on them. The highest number of offshore rigs are found in the Asia Pacific region, although the offshore rig utilization rate tended to be lower than in other regions. However, the Russia-Ukraine war has also led to greater utilization rate here and around 90 percent of the marketed rig fleet in Southeast Asia was contracted throughout 2023.

Largest contractors

Switzerland-based Transocean Ltd is the world's top offshore drilling contractor bases on revenue within the energy equipment and services sector. In its 2023 fiscal year, it reported a revenue of some 2.83 billion U.S. dollars.