What Stena Drilling does

Stena Drilling is one of the world's foremost independent offshore drilling contractors and a wholly-owned subsidiary of Stena AB, the privately held Swedish conglomerate. Founded in 1982 and headquartered in Aberdeen, Scotland, with a regional hub in Houston, the company operates a modern fleet of five ultra-deepwater drillships (Stena DrillMAX, Stena IceMAX, Stena Carron, Stena Forth, and Stena Evolution) and one semi-submersible (Stena Don). Stena pioneered the industry's first complete deepwater Managed Pressure Drilling (MPD) integrated solution; every drillship is MPD-capable, and the fleet has collectively drilled more than 50 MPD wells and approximately 4,000 MPD well days. Differentiated technical assets include the patented ATMoS attachable turret mooring system, the proprietary SBOP surface blowout preventer, the DrillSLIM slim-well concept, and an announced 20,000-psi (20K) pressure-control upgrade for Stena Evolution with NOV-supplied equipment planned for 2026.

The company generates revenue through long-term day-rate contracts with major international oil and gas operators, ranging from single-well campaigns of 30-90 days to multi-year programmes of 365 days or more (e.g., Shell's 5-year Stena Evolution contract, BP's 2-year Stena IceMAX extension). Customers include Shell, BP, TotalEnergies, ExxonMobil, CNOOC, Energean, Repsol, Tullow, Ithaca Energy, Chariot, and FAR across geographies spanning the UK Continental Shelf, US Gulf of Mexico, Guyana, Suriname, Brazil, West Africa, the Eastern Mediterranean, Morocco, and Eastern Canada. Pricing is negotiated bilaterally; contracts typically specify firm well programmes with optional extension wells and recognise revenue as drilling operations are performed.

A digital and sustainability layer overlays the fleet: Kongsberg's KognifAI platform streams data from over 1,300 sensors per vessel to onshore teams, supporting a Dynamic Digital Twin and condition-based maintenance; IBM Maximo (deployed fleet-wide in April 2025 via Cohesive) handles enterprise asset management; DigiMAX acts as the common microservices data platform; and IDS TourNet Pro / Anova DPM deliver fleet-wide performance benchmarking. The company holds ISO 50001:2018 and ISO 14001:2015 certifications across the entire fleet, was first globally to achieve DNV Cyber Secure Class Notation (Stena IceMAX), and has secured DNV Abate(P) and Abate(P+) notations for greenhouse gas abatement on three drillships. Strategic partnerships include a 30% stake in Intebloc (digital lifting), a minority stake in SmartChainServices (blockchain performance contracts), an MoU with dCarbonX for Decarbonisation Exploration, and a 2026 automation MoU with Keystone.

Name

Stena Drilling

Legal name

Stena Drilling Limited

Website

https://stena-drilling.com

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Stena Drilling is an independent offshore drilling contractor operating five ultra-deepwater drillships and one semi-submersible, all MPD-capable, serving super-majors and large NOCs across 50+ countries via long-term day-rate contracts from its Aberdeen headquarters.

Ownership category

akta.pro rank

Product category

Offshore Drilling Services

NAICS

Drilling Oil and Gas Wells (213111), Support Activities for Oil and Gas Operations (213112)

SIC

Drilling Oil & Gas Wells (1381), Oil & Gas Field Services, Nec (1389), Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Drilling & Workover Rigs (Land & Offshore) (EUALABAA)

akta.pro secondary industries

Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters) (EUALABAJ), Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals) (EUALABAH), Subsea Services & Equipment (Subsea Trees, Umbilicals, Installation, IMR) (EUALABAI), OFS Engineering, Construction & O&M (Field Development, Brownfield, Maintenance) (EUALABAM)

Keywords

• Offshore drilling services
• Ultra-deepwater drilling
• Managed pressure drilling
• Drillship chartering
• Harsh environment drilling

Headquarters

HQ city

Aberdeen

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Offshore Drilling Contract Services: Stena Drilling generates revenue primarily through long-term day-rate contracts with major oil and gas operators for the hire of its Mobile Offshore Drilling Units (MODUs). Contracts typically specify firm well programmes with optional extension wells, ranging from single-well campaigns of 30-90 days to multi-year programmes of 365 days or more. Revenue is recognised as drilling operations are performed, with day rates constituting the primary billing unit.
2. Integrated Drilling Performance Services: Ancillary services including MPD operations, SBOP campaigns, decommissioning, and extended well testing, billed as integrated components of drilling contracts or as standalone service modules.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Stena Drilling provides offshore drilling services through a fleet of five ultra-deepwater drillships (Stena DrillMAX, Stena IceMAX, Stena Carron, Stena Forth, Stena Evolution) and one semi-submersible (Stena Don), all equipped with fully integrated Managed Pressure Drilling (MPD) systems. The company delivers long-term day-rate drilling contracts, integrated drilling performance services (including MPD, SBOP, Extended Well Testing and decommissioning), and digital monitoring/asset management solutions to international oil and gas operators across global offshore basins.

Product overview

Stena Drilling is an independent offshore drilling contractor offering drilling services through a fleet of five ultra-deepwater drillships and one semi-submersible vessel, all equipped with fully integrated Managed Pressure Drilling (MPD) systems. The core offering centers on the drilling fleet (Stena DrillMAX, Stena IceMAX, Stena Carron, Stena Forth, Stena Evolution, and semi-submersible Stena Don), supplemented by proprietary technology sub-products including the ATMoS turret mooring system, SBOP surface blowout preventer, DrillSLIM deepwater slim-well solution, and Extended Well Testing. The digital layer includes DigiMAX (common microservices data platform), a Dynamic Digital Twin powered by Kongsberg's KognifAI for real-time sensor analytics across 1,300+ sensors per vessel, and IBM Maximo (with Cohesive) for enterprise asset management fleet-wide. The company also holds a 30% stake in Intebloc for digital lifting technology and a minority stake/partnership with SmartChainServices for blockchain-based performance contracts. The Evolve transformation programme underpins ongoing digital and business transformation across the fleet.

Differentiator

Problem solved

Functional benefit

Products and services

• Ultra-Deepwater Drillship Fleet (Stena DrillMAX, Stena IceMAX, Stena Carron, Stena Forth, Stena Evolution)

Quantifiable outcome

• 50+ MPD wells drilled with approximately 4,000 MPD well days, representing over 10 rig years of MPD operations
• +4 more outcomes

Named customers12 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability2 records

Feature8 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• KeystonecoreTechnology or Integration · 20 January 2026Stena Drilling entered a collaborative MoU with Norway-based software supplier Keystone to develop a next-generation automation-enabled well delivery model. The partnership focuses on automated operational reporting, NOVOS auto-configuration workflows, integrated activity and maintenance planning, and shared operational insights to support safer and more efficient well operations globally.
• Cohesive (Bentley Systems)coreImplementation/ SI/ Consulting Partner · 7 August 2025Cohesive and Stena Drilling collaborated to deliver the first implementation of IBM Maximo Application Suite enabling offline environments. The upgrade from Maximo 7.6.1.3 went live in April 2025, using Cohesive's patented Data Utility (CDU) and Data Replication (CDR) applications to eliminate downtime during the upgrade and migration process across seven Maximo environments (one central, six on offshore vessels). No operational interruptions occurred during the upgrade.
• IntebloccoreStrategic or Co-development Partner · 8 June 2021Stena Drilling acquired a 30% stake in Intebloc, an award-winning specialist digital lifting technology solutions provider. The deal marks a milestone in Stena Drilling's digital evolution, with Rig-Ware (Intebloc's solution) already deployed fleet-wide for managing and tracking lifting equipment. The investment enables Intebloc to accelerate product development and diversify into construction, renewables and marine sectors.
• dCarbonXcoreStrategic or Co-development Partner · 3 February 2021Stena Drilling signed a strategic framework agreement for Decarbonisation Exploration with UK-based dCarbonX to support development of offshore GeoEnergy resources. Both companies will engineer solutions to discover and develop subsurface assets for combinations of geothermal energy, molecular energy storage, and carbon sequestration. Stena positions itself as the first 'Decarbonisation Exploration Driller' through this partnership.
• Independent Data Services (IDS)coreTechnology or Integration · 18 January 2021IDS was awarded a six-figure fleet-wide deal with Stena Drilling for the world's first fully integrated reporting and analytics services. Following successful trials on Stena Spey and Stena Carron, IDS deployed its TourNet Pro drilling contractor reporting service and Anova DPM drilling performance monitoring service across the fleet in Q1 2021, delivering automated near-real time rig and fleet-wide performance benchmarks and KPIs.
• KongsbergcoreTechnology or IntegrationStena Drilling uses Kongsberg's KognifAI system for real-time data visualisation, allowing data to be livestreamed from the fleet to onshore operations. KognifAI enables KPI analysis, condition-based monitoring, failure analysis, and supports the Dynamic Digital Twin for each vessel. Over 1,300 sensors provide data for the platform.
• NOV (National Oilwell Varco)coreTechnology or IntegrationNOV is the equipment supplier for the 20,000-psi (20K) equipment upgrade on Stena Evolution, including the 20K Subsea BOP and other key equipment, with installation planned for 2026. Stena Drilling works with NOV as the primary equipment supplier for advanced drilling systems.
• OGTC (Oil and Gas Technology Centre)minorStrategic or Co-development PartnerOGTC supported Intebloc (in which Stena Drilling holds a 30% stake) through the TechX Pioneer Programme, helping accelerate development and deployment of Rig-Ware. OGTC continues to work with Intebloc on development of enhanced lifting technology focused on safe marine operations.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• COSL (China Oilfield Services Limited): COSL is one of the largest integrated offshore oilfield services providers in Asia, operating a deepwater drilling fleet alongside well services and marine support. It overlaps with Stena in ultra-deepwater drilling and competes for global IOC programmes.
• Saipem: Saipem is a large integrated oilfield services and engineering contractor that also operates an offshore drilling fleet (SaiDrill), offering broader services than Stena but overlapping on ultra-deepwater drilling for the same IOC and NOC clients.

Direct peers

• Transocean: Transocean is the world's largest offshore drilling contractor, operating the deepest fleet of ultra-deepwater drillships globally. It is Stena's most direct competitor for high-spec deepwater drilling contracts with the same IOC super-major customers.
• Valaris Limited: Valaris is one of the largest offshore drilling contractors with a significant ultra-deepwater drillship fleet and a strong IOC customer base. It directly competes with Stena for premium deepwater tenders in basins like West Africa, the Mediterranean, and the Gulf of Mexico.
• Noble Corporation: Noble Corporation operates a modern fleet of ultra-deepwater drillships and jackups post the Maersk Drilling and Pacific Drilling combinations. It targets the same high-spec deepwater and harsh-environment drilling segment as Stena.
• Seadrill: Seadrill owns and operates one of the most modern ultra-deepwater drillship fleets in the industry with extensive harsh-environment capability. Stena competes head-to-head with Seadrill for IOC ultra-deepwater contracts globally.
• Diamond Offshore: Diamond Offshore operates a fleet of ultra-deepwater drilling rigs and is a direct competitor to Stena for high-spec deepwater drilling programmes with major IOCs in basins such as the Gulf of Mexico, Brazil, and West Africa.
• Vantage Drilling International: Vantage Drilling operates ultra-deepwater drillships and semi-submersibles serving IOC and independent customers in deep and ultra-deepwater basins. It is a smaller direct peer competing for similar deepwater contracts to Stena.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCbr7ZcWNehpkhDQyLW8vMZg
• Facebookfacebook.com/StenaDrilling
• LinkedInlinkedin.com/company/stena-drilling
• Instagraminstagram.com/stenadrilling

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Stena Drilling