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Most of the world's oil rigs are located on land. At the end of 2024, there were operational onshore oil rigs, compared with *** offshore rigs. The decline in offshore rigs is mainly due to a fall in proved reserves in the North Sea. 

Annual average rig numbers and offshore rig utilization

Similar to end of year figures, the annual average number of global oil rigs also decreased in 2024, reaching units. North America is the region with the greatest number of oil and gas rigs. In the last four years, worldwide market utilization rate for offshore oil rigs generally ranged between ** and *** percent, with South America regularly boasting the highest rate of around *** ±è±ð°ù³¦±ð²Ô³Ù.Ìý

The role of oil in meeting energy demand

In the current evolving energy sector, oil rigs and as such oil production continue to play a significant role in meeting energy demand. Despite greater rollout of renewables, oil products remain heavily used in the transportation and manufacturing sectors, especially. Today, oil and gas account for more than ** percent of worldwide primary energy consumption.