Schlumberger is company drilling as the largest oilfield service company in the world.
In 2018 it received revenues of $ 32.81 billion, up 7.8% from the previous year with revenues of $ 30.44 billion.
Schlumberger’s headquarters is in Houston, Texas.
This oil drilling company serves
- Evaluation of formation.
- Directional drilling, and well stimulation.
- Completion and productivity of wells.
- Consulting, as well as information management.
- IT infrastructure and software services.
- Serving offshore drilling including long-range wells, high-pressure wells, deep water, high temperature, multilateral and unconventional gas.
Projects that they have worked on such as the Epsilon Oil Field in the Aegean Sea, Greece, Avouma Field in Gabon and the Bream Area Project, Mediterranean North Sea, Norway.
Halliburton is the next largest drilling company to provide upstream oil and gas services throughout the reservoir’s life cycle.
The company’s revenue was $ 23.99 billion in 2018, recording a 16.37% growth from 2017’s revenue of $ 20.62 billion.
The company’s services include.
- Finding reserves and managing geological data.
- Evaluating drilling.
- Well construction, completion
- And optimization of production through field life.
- includes horizontal and directional drilling.
- Temporary measurement drilling.
- Logging while drilling.
- Multilateral systems.
- Underbalanced applications.
- And rig site information systems.
Halliburton, an oilfield service provider based in the US and Dubai.
The project they are handling is drilling in the Jasmine field in the North Sea, England.
Development of the offshore fields of Tupi, and the Barracuda and Caratinga fields in Brazil.
Oil drilling company Baker Hughes serves the drilling, production and finishing services for the oil, gas and other energy industries.
Baker Hughes offers an Offshore drilling system that includes
- Directional drilling services.
- While-measuring drilling.
- Circular and re-entry tubes.
- Casing/liner drilling systems.
- Optimized drilling.
- And long-distance drilling.
Baker Hughes recorded revenues of $ 22.9 billion in 2018, up 5% from the previous year.
Baker Hughes headquarters in Houston.
The projects they are working on are the offshore Skul field in the Norwegian Sea and the Who Dat field in the US Gulf of Mexico.
Transocean Ltd. oil drilling company is an offshore contract drilling service provider with 140 mobile offshore drilling units.
Includes a high-specification rig consisting of ultra-deepwater, deepwater and premium jack-up rigs.
Has four new ultra-deepwater units, and five high specification jack-ups.
Swiss offshore drilling revenue, Transocean, rose 1.5% in 2018 to $ 3.01 billion from $ 2.97 billion in 2017.
The company has become one of the most flexible and modern in the world.
Due to its significant emphasis on parts that are technically demanding from the offshore drilling business.
Transocean provides offshore contract drilling services by specializing in deep-sea drilling and harsh environments.
Some offshore projects that use Transocean services include the Leviathan gas field in the Mediterranean Sea near Israel.
The Jack / St Malo Deepwater Oil Project in the US Gulf in Mexico, and the Tyrian oil and gas field in the Norwegian Sea.
Weatherford is an oil drilling company based in Switzerland and operationally based in Houston.
Not only as a leading offshore drilling company but also a supplier of various equipment and services for the oil and gas drilling industry.
Weatherford’s corporate revenue in 2018 remained stable at $ 5.74 billion compared to the previous year with $ 5.69 billion in 2017.
Weatherford’s services include well construction, formation evaluation, completion of wells, and artificial lifting.
- Provides drilling services.
- Including rotary-steerable (RSS) systems.
- Performance drilling.
- Highly sophisticated logging-while-drilling (LWD) technology.
- Measurement-while-drilling (MWD).
- Underbalanced drilling.
- And managed pressure drilling.
The projects that are part of them are Cliff Head Field in Australia, Grane oil field in Norway and Tindalo oil field in the Philippines.
The company operates in almost 100 countries with a fleet of 115 rigs and 6000+ people.
1. How do oil and gas companies make money?
Oil companies benefit from the difference between how much it costs to produce one barrel of oil and the selling price.
Downstream companies get money from the difference between what they pay to buy raw materials such as crude oil, and higher selling prices.
2. Why is the oil and gas industry important?
Oil has been the most important source of energy in the world since the mid-1950s.
Its products support modern society.
Supply energy to the electricity industry, make various kinds of home appliances and provide fuel for vehicles and airplanes to transport goods and people around the world.
3. How can I join the oil and gas industry?
Graduated mathematics, physics, geology and engineering qualifications (chemistry, petroleum, mechanics, electricity, and environment).
However, the fastest way is to complete certain practical certificates, such as oil rig training programs.
4. How big is the oil and gas industry?
Oil and gas exploration and production industry, or E&P. in 2019 global GDP is estimated at $ 86 trillion, the oil and gas drilling sector forms around 3.8% of the global economy.
5. What’s the difference between upstream and downstream oil and gas?
Upstream’s role is to extract oil and natural gas from the soil; ‘midstream’ is the role of moving them safely thousands of miles; and ‘downstream’ processes these resources into fuels and finished products that many people use.
How oil and gas industry works
The workings of the oil and gas industry starting from the role of upstream companies that extract oil from the earth’s surface to the surface.
This process is continued by midstream companies whose role is to transport oil to processing companies which are downstream industrial companies.
In many countries regulating the distribution of oil is the government, so they also have a policy on price formation in the market.
It aims to maintain a balance between price and community needs but also by setting prices that are not a burden on its people.
The way oil and gas companies work is a chain that lasts continuously in the long run.
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