As of 2026, the global offshore drilling and oil and gas production market is valued at roughly US$151 billion to $155 billion, according to Market Growth Reports. In the United States, the Gulf of Mexico offshore oil and gas sector alone generates massive economic value, producing roughly $62.3 billion in total output.
The offshore drilling industry in America effectively began in the 1890s when the first overwater drilling operations began. A few years later, the first offshore oilfield in the world was yielding "black gold" along the coast of California. By the 1930s, the Gulf of Mexico was being explored.
The 20th century saw a rapid development of offshore drilling technology and the appearance of advanced, high-tech offshore wells that could drill faster and deeper. But the evolution of the offshore drilling sector wasn't without risk, and over the decades many lives have been lost while the environmental impact has been considerable.
In this gallery, we go under the surface of the offshore drilling industry, from its inception to some of the largest well platforms on the planet. Click on to continue reading.