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Global offshore rig utilization rate by region 2021-2024

Published by Statista Research Department, Feb 19, 2024

South America had the highest marketed utilization rate of offshore oil and gas rigs in the week of February 16, 2023. 100 percent of the total marketed rig fleet in South America were contracted. This compared to an average worldwide marketed utilization rate of 92 percent. Most regions reported an increase in rig utilization in 2024. Utilization rate is calculated by dividing the number of rigs contracted with the total marketed rig fleet, which includes stacked rigs and those under construction in each region. The total supply of global offshore oil rigs numbered 693 units that same month.

Marketed utilization rate of offshore rigs worldwide in selected months from 2021 to 2024, by region

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Release date

February 2024

Region

Worldwide

Survey time period

May 13, 2021; August 12, 2021; November 12, 2021; February 11, 2022; May 13, 2022; August 12, 2022; November 23, 2022; February 17, 2023; May 11, 2023; August 25, 2023; November 17, 2023; February 16, 2023

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