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Oil rig operators run and manage an installation.

The acreage of land that the oil reservoir resides is owned (leased) by the Oil Company. The Oil Company will pay a Drilling Contractor to drill the reservoir. The Drilling Contractor will own the drilling rig and will be the Rig Operator. The Oil Company will also employ Service Companies to perform certain functions on the rig during drilling. With a drilled and completed well the Oil Company may develop the location and install a Platform (if offshore) to produce numerous wells. The Oil Company may operate the platform itself or employ an Operating Company to manage the platform and production. Again, Service Companies may be employed to carry out remedial work on the oil wells from the platform.

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14y ago

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