Number of oil and gas rigs by world region July 2022

North America hosts the most oil and gas rigs worldwide. As of July 2022, there were 952 land rigs in that region, with a further 19 rigs located offshore. These numbers are higher than in the past year, as sanctions on Russian exports have slowly led to greater exploration activity in North America. The average number of global oil rigs has net declined since 2014.

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 greatest 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. In the last few months however, the Russia-Ukraine war has also led to greater utilization rate here and nearly 90 percent of the marketed rig fleet in Southeast Asia was contracted in August 2022.

Switzerland based Transocean Ltd is the world's top offshore drilling contractor bases on revenue within the energy equipment and services sector.