[Ranking] TOP 25 Oil & Gas Equipment & Services / Energy Companies Q3/2023
Intro
The Oil & Gas Equipment & Services industry plays a critical role in the worldwide economy, providing essential support to the energy sector. This sub-industry encompasses a wide range of companies that specialize in manufacturing, distributing, and servicing equipment and technology used in the exploration, extraction, and transportation of oil and gas.
With its profound influence, the Oil & Gas Equipment & Services industry has ripple effects across diverse sectors. It not only fuels the global energy demand but also drives innovation, job creation, and economic growth. The industry's activities have significant implications for the environment, geopolitics, and national security as well.
The economic magnitude of the Oil & Gas Equipment & Services industry is staggering. As the world's energy needs continue to rise, so does the demand for advanced equipment and services. This has led to a steady upward trajectory for the industry, attracting investment and fostering technological advancements that enhance efficiency and sustainability.
Recent trends, breakthroughs, and obstacles are actively shaping the Oil & Gas Equipment & Services industry. The emergence of renewable energy sources, increased regulatory scrutiny, and the ongoing transition to cleaner technologies are transforming the landscape. Companies in this sub-industry must adapt and innovate to meet the evolving demands and address environmental concerns.
Navigating the ever-changing landscape of the Oil & Gas Equipment & Services industry requires a deep understanding of its leading companies. These companies are at the forefront of technological innovation, driving efficiency improvements, and setting industry standards. Exploring the top players in this sub-industry provides valuable insights into the present and future dynamics of the oil and gas sector.
Ranking
#25 TGS-NOPEC Geophysical Company ASA
Employees: 1.3K
Revenue: 600M$
Website: https://www.tgs.com
Description: TGS-NOPEC Geophysical Company ASA is a leading provider of multi-client geoscience data and services to the oil and gas industry. Headquartered in Asker, Norway, the company operates globally, offering a wide range of exploration, development, and production solutions. With a history dating back to 1981, TGS-NOPEC has established itself as a trusted partner to industry players, leveraging advanced technology and expertise to deliver high-quality seismic data and interpretation products. The company's offerings include well data, imaging, reservoir characterization, and data analytics, catering to the needs of oil and gas companies across the value chain. With a dedicated team of approximately 1,300 employees, TGS-NOPEC remains at the forefront of geophysical services, supporting exploration and production activities worldwide.
#24 Core Laboratories N.V.
Employees: 4.5K
Revenue: 900M$
Website: https://www.corelab.com
Description: Core Laboratories N.V. is a leading provider of proprietary and patented reservoir description, production enhancement, and reservoir management services for the oil and gas industry. Headquartered in Houston, United States, the company operates globally in the Energy industry. With a history dating back to 1936, Core Laboratories has established itself as a trusted partner for oil and gas companies, offering advanced technology and expertise to optimize reservoir performance. The company's services include well testing and analysis, reservoir fluid studies, core analysis, and production optimization. Core Laboratories serves major oil and gas companies, independent operators, and national oil companies, contributing to the efficient and sustainable extraction of hydrocarbons worldwide.
#23 Shawcor Ltd.
Employees: 8K
Revenue: 1.2B$
Website: https://www.shawcor.com
Description: Shawcor Ltd. is a global leader in the Oil & Gas Equipment & Services industry based in Toronto, Canada. With a history dating back to 1932, Shawcor has established itself as a trusted provider of innovative solutions for the energy sector. The company operates across North America, Europe, Asia, Africa, and the Middle East, serving customers in over 120 countries. Shawcor specializes in providing a wide range of services and products including pipeline coatings, inspection services, asset integrity management, and offshore pipeline solutions. With a workforce of approximately 8,000 employees, the company is committed to delivering high-quality solutions that enhance the safety, reliability, and efficiency of energy infrastructure worldwide. Shawcor generates annual revenues of around 1.2 billion US dollars, solidifying its position as a leading player in the industry.
#22 Dril-Quip, Inc.
Employees: 2.6K
Revenue: 1.2B$
Website: https://www.dril-quip.com
Description: Dril-Quip, Inc. is a leading provider of advanced drilling and production equipment for the oil and gas industry. Headquartered in Houston, Texas, Dril-Quip operates primarily in North America. With a history dating back to 1981, the company has established a strong reputation for delivering innovative and reliable solutions to its clients. Dril-Quip's comprehensive product portfolio includes subsea wellheads, connectors, and control systems, as well as surface wellheads and production systems. The company's cutting-edge technologies and expertise enable efficient and safe drilling operations, helping oil and gas companies optimize production and minimize downtime. With a workforce of approximately 2,600 employees, Dril-Quip continues to drive advancements in oil and gas equipment and services, contributing to the growth and success of the energy industry.
#21 Precision Drilling Corporation
Employees: 5.5K
Revenue: 1.8B$
Website: https://www.precisiondrilling.com
Description: Precision Drilling Corporation, headquartered in Calgary, Canada, is a leading company in the Oil & Gas Equipment & Services industry. Founded in 1969, the company has established itself as a prominent player in the energy sector. With approximately 5,500 employees, Precision Drilling operates globally and offers a wide range of drilling services and equipment to the oil and gas industry. The company's services include contract drilling, well servicing, and strategic support services. Precision Drilling focuses on delivering innovative solutions and advanced technology to optimize drilling operations and maximize efficiency. With a revenue of 1.8 billion dollars, Precision Drilling continues to expand its presence and maintain its position as a trusted leader in the energy industry.
#20 RPC, Inc.
Employees: 4.5K
Revenue: 1.8B$
Website: https://www.rpc.net/
Description: RPC, Inc. is a leading company in the Oil & Gas Equipment & Services industry. Based in Houston, United States, RPC provides a wide range of products and services to the energy sector. With a history dating back to 1984, the company has established itself as a trusted partner in the industry. RPC operates in various segments including pressure pumping, coiled tubing, downhole tools, and drilling. They offer innovative solutions to enhance drilling and production efficiency, helping their customers optimize their operations. With over 4,500 employees, RPC is committed to delivering exceptional service and value to its clients. The company has achieved significant revenue growth, reaching 1.8 billion dollars in annual revenue.
#19 Helmerich & Payne, Inc.
Employees: 7.5K
Revenue: 2.3B$
Website: https://www.hpinc.com
Description: Helmerich & Payne, Inc. is a leading company in the Oil & Gas Equipment & Services industry. Based in Tulsa, Oklahoma, United States, the company was founded in 1920. With a workforce of approximately 7,500 employees, Helmerich & Payne provides innovative drilling solutions to the energy sector. The company specializes in the design, fabrication, and operation of high-performance drilling rigs and equipment. Helmerich & Payne's advanced drilling technologies and services enable efficient and cost-effective extraction of oil and gas resources. With annual revenues of 2.3 billion dollars, the company continues to be a trusted partner for major energy companies worldwide.
#18 Patterson-UTI Energy, Inc.
Employees: 5K
Revenue: 2.3B$
Website: https://www.patenergy.com
Description: Patterson-UTI Energy, Inc. is a leading provider of oil and gas drilling services in the Energy industry. Based in Houston, Texas, the company operates primarily in North America. With over 40 years of experience, Patterson-UTI Energy offers a comprehensive range of drilling and related services, including contract drilling, pressure pumping, and directional drilling. The company's fleet of technologically advanced drilling rigs ensures efficient and safe operations for its clients. Patterson-UTI Energy is committed to delivering high-quality services, utilizing advanced drilling technologies and experienced personnel. With a workforce of approximately 5,000 employees, the company strives to meet the evolving needs of the oil and gas industry. In 2020, Patterson-UTI Energy reported revenue of 2.3 billion dollars, solidifying its position as a key player in the oil and gas equipment and services sector.
#17 Oceaneering International, Inc.
Employees: 10K
Revenue: 2.5B$
Website: https://www.oceaneering.com
Description: Oceaneering International, Inc. is a leading company in the Oil & Gas Equipment & Services industry. Headquartered in Houston, United States, Oceaneering provides a wide range of services and products to the energy sector. The company was founded in 1964 and has grown to have approximately 10,000 employees worldwide. With a revenue of 2.5 billion dollars, Oceaneering offers innovative solutions in deepwater exploration, subsea projects, offshore oil and gas production, and other energy-related activities. Their expertise includes remotely operated vehicles (ROVs), robotics, engineering services, and advanced technologies that support the exploration and production of oil and gas reserves. Oceaneering is committed to delivering safe, reliable, and efficient solutions to their clients in the energy industry.
#16 Transocean Ltd.
Employees: 12K
Revenue: 2.7B$
Website: https://www.deepwater.com
Description: Transocean Ltd. is a leading company in the Oil & Gas Equipment & Services industry. Headquartered in Houston, United States, the company was founded in 1973. With approximately 12,000 employees, Transocean operates globally and provides offshore contract drilling services for oil and gas wells. The company specializes in the drilling and completion of deepwater and harsh-environment wells. Transocean's fleet of mobile offshore drilling units includes ultra-deepwater, harsh-environment, and midwater floaters, as well as jackups. With a revenue of 2.7 billion dollars, Transocean continues to be a key player in the energy sector, contributing to the exploration and production of oil and gas resources worldwide.
#15 Subsea 7 S.A.
Employees: 10K
Revenue: 3.2B$
Website: https://www.subsea7.com
Description: Subsea 7 S.A. is a leading company in the Oil & Gas Equipment & Services industry. Headquartered in London, United Kingdom, Subsea 7 specializes in providing engineering, construction, and offshore installation services to the energy sector. With a workforce of approximately 10,000 employees, the company operates globally and offers a wide range of services including subsea construction, umbilicals, risers, and flowlines installation, as well as inspection, repair, and maintenance solutions. Subsea 7 has established a strong reputation for delivering complex projects in some of the world's most challenging environments. In 2020, the company reported a revenue of 3.2 billion dollars, further solidifying its position as a key player in the industry.
#14 McDermott International, Inc.
Employees: 12K
Revenue: 3.5B$
Website: https://www.mcdermott.com/
Description: McDermott International, Inc. is a leading global provider of integrated engineering, procurement, construction, and installation (EPCI) services for the Oil & Gas Equipment & Services industry. Headquartered in Houston, United States, McDermott has been in operation since 1923. With a workforce of approximately 12,000 employees, the company offers a comprehensive range of services including design, fabrication, installation, and maintenance of offshore platforms and subsea infrastructure. McDermott has a strong track record in delivering complex projects and has established itself as a trusted partner to major oil and gas operators worldwide. With an annual revenue of 3.5 billion dollars, McDermott continues to drive innovation and provide cost-effective solutions to meet the evolving needs of the energy industry.
#13 FMC Technologies, Inc.
Employees: 18K
Revenue: 4.2B$
Website: https://www.fmctechnologies.com
Description: FMC Technologies, Inc., headquartered in Houston, United States, is a prominent player in the Oil & Gas Equipment & Services industry. Founded in 2000, the company operates globally, providing innovative solutions and technologies to the energy sector. With approximately 18,000 employees, FMC Technologies offers a diverse range of products and services including subsea systems, surface wellhead systems, fluid control systems, and offshore loading systems. The company's advanced equipment and services assist in enhancing oil and gas exploration, production, and processing operations. FMC Technologies has established a strong reputation for its technological expertise and commitment to delivering reliable solutions to its clients. With annual revenues of around 4.2 billion dollars, FMC Technologies continues to play a vital role in the energy industry's growth and development.
#12 Weatherford International Plc
Employees: 26K
Revenue: 4.4B$
Website: https://www.weatherford.com
Description: Weatherford International Plc, based in Houston, United States, is a leading company in the Oil & Gas Equipment & Services industry. Founded in 1941, the company has a rich history of providing innovative solutions and services to the energy sector. With a workforce of approximately 26,000 employees, Weatherford International Plc operates globally, delivering a wide range of equipment and services to support oil and gas exploration, drilling, production, and well intervention. The company offers a comprehensive portfolio of products, including artificial lift systems, drilling tools, well completion equipment, and reservoir solutions. Weatherford International Plc is committed to delivering reliable, efficient, and sustainable solutions to its clients, helping them optimize their operations and maximize their productivity in the energy industry.
#11 Petrofac Limited
Employees: 11K
Revenue: 5.4B$
Website: https://www.petrofac.com
Description: Petrofac Limited, headquartered in London, United Kingdom, is a prominent player in the Oil & Gas Equipment & Services industry. Founded in 1981, the company has established itself as a leading provider of services to the energy sector. With a workforce of approximately 11,000 employees, Petrofac operates globally, offering a comprehensive range of services including engineering, construction, operations, and maintenance. The company's expertise spans across the entire project lifecycle, from initial concept through to delivery and ongoing support. Petrofac's commitment to innovation and safety has earned it a strong reputation in the industry. With annual revenues of 5.4 billion dollars, Petrofac continues to play a significant role in the energy sector, delivering high-quality solutions to its clients worldwide.
#10 Cameron International Corporation
Employees: 35K
Revenue: 8B$
Website: https://www.c-a-m.com
Description: Cameron International Corporation, headquartered in Houston, United States, is a leading player in the Oil & Gas Equipment & Services industry. Founded in 1920, the company has a rich history and extensive experience in providing innovative solutions for the energy sector. With a workforce of approximately 35,000 employees, Cameron International Corporation is known for its expertise in designing, manufacturing, and marketing a wide range of equipment and technologies essential for the exploration, production, and transportation of oil and gas. The company's offerings include valves, blowout preventers, wellheads, and various other products and systems that ensure the safety, efficiency, and reliability of energy operations. With an annual revenue of around 8 billion dollars, Cameron International Corporation continues to be a major player in the global energy market, serving both offshore and onshore projects.
#9 National Oilwell Varco, Inc.
Employees: 35K
Revenue: 9.2B$
Website: https://www.nov.com
Description: National Oilwell Varco, Inc. is a leading company in the Oil & Gas Equipment & Services industry. Headquartered in Houston, United States, the company has a rich history dating back to its foundation in 1841. With a workforce of approximately 35,000 employees, National Oilwell Varco operates globally, providing innovative solutions and technologies to the energy sector. The company offers a wide range of products and services, including drilling equipment, wellbore technologies, rig systems, and production equipment. National Oilwell Varco is committed to delivering reliable and efficient solutions to its customers, contributing to the growth and development of the oil and gas industry. With a revenue of 9.2 billion dollars, the company continues to be a key player in the energy sector.
#8 NOVATEK
Employees: 20K
Revenue: 9.2B$
Website: https://www.novatek.ru/en/
Description: NOVATEK is a leading Russian natural gas producer and one of the largest independent gas producers globally. Headquartered in Moscow, Russia, the company operates primarily in the Oil & Gas Equipment & Services industry, with a focus on the exploration, production, processing, and marketing of natural gas and liquid hydrocarbons. Founded in 1994, NOVATEK has grown to employ approximately 20,000 employees worldwide and has achieved significant revenue growth, with annual revenues reaching 9.2 billion US dollars. The company operates a diversified portfolio of assets, including natural gas fields, processing plants, and transportation infrastructure, enabling it to effectively extract and deliver natural gas to domestic and international markets. With a strong commitment to technological innovation and sustainable development, NOVATEK continues to play a vital role in meeting global energy demands.
#7 Saipem S.p.A.
Employees: 32K
Revenue: 9.5B$
Website: https://www.saipem.com
Description: Saipem S.p.A. is a leading company in the Oil & Gas Equipment & Services industry. Headquartered in San Donato Milanese, Italy, Saipem operates globally, providing a wide range of services to the energy sector. The company was founded in 1957 and has since established itself as a key player in the industry. With a workforce of approximately 32,000 employees, Saipem offers expertise in engineering, procurement, construction, installation, and project management. The company's revenue stands at 9.5 billion dollars, reflecting its strong market presence. Saipem's commitment to innovation and sustainability ensures it remains at the forefront of the evolving energy landscape.
#6 Tenaris S.A.
Employees: 21K
Revenue: 9.6B$
Website: https://www.tenaris.com
Description: Tenaris S.A. is a leading global supplier of steel pipe products and services for the oil and gas industry. Headquartered in Buenos Aires, Argentina, Tenaris operates in the Energy industry, specifically in the Oil & Gas Equipment & Services sector. The company was founded in 2001 and has a workforce of approximately 21,000 employees. With a revenue of 9.6 billion dollars, Tenaris provides a wide range of products and solutions including casing, tubing, line pipe, and mechanical and structural pipes. Tenaris serves customers in over 50 countries and operates a network of manufacturing facilities, service centers, and research and development centers worldwide. With a commitment to innovation and technology, Tenaris is dedicated to delivering high-quality products and services to support the global energy infrastructure.
#5 John Wood Group PLC
Employees: 55K
Revenue: 9.8B$
Website: https://www.woodplc.com/
Description: John Wood Group PLC is a leading company in the Oil & Gas Equipment & Services industry. Based in Aberdeen, United Kingdom, the company has been operating since 1982. With a workforce of approximately 55,000 employees, John Wood Group provides a wide range of services and solutions to the energy sector. The company's activities include engineering, procurement, and construction services, as well as maintenance, modifications, and operations support. They specialize in providing innovative solutions for upstream, midstream, and downstream projects, ensuring efficient and sustainable operations for their clients. With a revenue of 9.8 billion USD, John Wood Group PLC is a major player in the global energy industry, contributing to the development and growth of the Oil & Gas Equipment & Services sector.
#4 TechnipFMC Plc
Employees: 37K
Revenue: 13.4B$
Website: https://www.technipfmc.com
Description: TechnipFMC Plc is a leading company in the Oil & Gas Equipment & Services industry. Headquartered in London, United Kingdom, the company operates globally, providing a wide range of services and products to the energy sector. With a workforce of approximately 37,000 employees, TechnipFMC specializes in subsea, onshore, offshore, and surface technologies. The company offers engineering, procurement, construction, installation, and maintenance services for oil and gas projects. In addition, TechnipFMC provides equipment and systems for drilling, production, and processing of hydrocarbons. With a revenue of 13.4 billion dollars, TechnipFMC is a major player in the energy industry, contributing to the exploration, extraction, and transportation of oil and gas resources worldwide.
#3 Halliburton Company
Employees: 40K
Revenue: 18B$
Website: https://www.halliburton.com
Description: Halliburton Company, headquartered in Houston, Texas, is a leading player in the Oil & Gas Equipment & Services industry. With a history dating back to 1919, the company has established itself as a trusted provider of products and services to the energy sector. Halliburton employs approximately 40,000 professionals worldwide, who work tirelessly to deliver innovative solutions and support to the oil and gas industry. The company's revenue stands at around 18 billion dollars, reflecting its strong market presence and extensive customer base. Halliburton's commitment to excellence and cutting-edge technology has made it a preferred choice for energy companies in need of equipment, tools, and expertise for drilling, completion, production, and reservoir evaluation projects.
#2 Baker Hughes Company
Employees: 68K
Revenue: 22.9B$
Website: https://www.bakerhughes.com/
Description: Baker Hughes Company, headquartered in Houston, United States, is a leading player in the Oil & Gas Equipment & Services industry. Founded in 1987, the company has grown to employ approximately 68,000 individuals worldwide. With a revenue of 22.9 billion US dollars, Baker Hughes offers a wide range of services and equipment to the energy sector. The company provides innovative solutions for oil and gas drilling, completions, production, and reservoir evaluation. Their expertise spans across multiple areas including drilling systems, wellbore intervention, subsea production, and digital solutions. Baker Hughes aims to drive sustainable energy advancements and help its customers meet their operational and environmental challenges in the ever-evolving energy landscape.
#1 Schlumberger Limited
Employees: 85K
Revenue: 32B$
Website: https://www.slb.com
Description: Schlumberger Limited is a leading company in the Oil & Gas Equipment & Services industry. Headquartered in Houston, United States, it operates globally and provides a wide range of technologies, solutions, and services to the energy sector. With a history dating back to 1926, Schlumberger has established itself as an industry leader in areas such as drilling, reservoir characterization, production, and processing. The company's comprehensive portfolio includes innovative technologies for oil and gas exploration, well construction, and production optimization. Schlumberger employs approximately 85,000 professionals who are dedicated to delivering efficient and sustainable solutions to their clients. With a revenue of 32 billion dollars, Schlumberger continues to play a vital role in driving the growth and advancement of the energy industry.
Summary
The oil and gas equipment and services sub-industry within the energy sector is home to several top companies that have achieved significant accomplishments and rankings. These companies play a crucial role in supporting the exploration, extraction, production, and distribution of oil and gas resources globally.
During the analysis of this sub-industry, several unexpected findings emerged. One notable finding is the increasing focus on incorporating advanced technologies such as artificial intelligence, automation, and digitalization in oil and gas equipment and services. This adoption of technology has led to greater efficiency, improved safety, and enhanced productivity in the sector.
Among the premier companies in this sub-industry are Schlumberger, Halliburton, Baker Hughes, National Oilwell Varco, and TechnipFMC. These companies have established themselves as leaders in providing a wide range of equipment and services to the oil and gas industry, including drilling equipment, well services, subsea systems, and maintenance services.
One common element driving the prosperity of these leading firms is their focus on innovation and research and development. These companies invest heavily in developing new technologies, equipment, and techniques to meet the evolving needs of the oil and gas industry. Additionally, they foster collaborations with other industry players and academia to drive innovation and knowledge sharing.
What sets these eminent companies apart from their industry rivals is their global presence and extensive operational capabilities. They have established a strong network of facilities, manufacturing plants, and service centers across key oil and gas regions worldwide. This enables them to provide timely and efficient support to their clients in various geographical locations.