What Friede & Goldman does

Friede & Goldman is a privately held, Houston-headquartered independent designer of offshore vessels and rigs, founded in 1949 by Jerome L. Goldman and Vladimir M. Friede. The company delivers naval architecture and marine engineering design services across the full lifecycle of offshore units — from concept and basic design through shipyard support, conversion, life-extension engineering, and field support — and also designs, supplies, and services proprietary offshore equipment. Its product portfolio spans jack-up drilling rigs (JU-2000E, JU-2000A, SuperM2, Mod II), semi-submersibles (Millennium 2400D, ExD series), drillships (DS-3810, DS-4500), Wind Turbine Installation Vessels (WindSetter 156, 146, 114M), Floating Offshore Wind Turbine hulls, and special purpose vessels. Proprietary technology platforms include the patented ARCOS rack chock system (installed on ~130 jack-ups over 40+ years with zero environmental losses), the patented BargeRack feeder barge handling system, and high-capacity jacking systems co-developed with ZPMC.

The company monetizes through project-based engineering design contracts (professional services), equipment sales (jacking systems, ARCOS rack chocks, SPHS pipe handling systems), and recurring aftermarket support including spare parts, rig move planning, and field engineering. Customers are major offshore drilling contractors and energy companies (Noble, Constellation/Valaris, Repsol, DEME, Pioneer Marine), accessed via direct enterprise B2B engagement from the Houston headquarters. The business has been built into the world's largest active fleet of jack-up designs, with 280+ rigs and vessels delivered at 30+ shipyards across 20+ countries. F&G is transitioning from a pure-play offshore oil & gas designer into a dual-threat platform serving the offshore renewables boom, while continuing to monetize its installed base through lifecycle services.

Name

Friede & Goldman

Legal name

Friede & Goldman, Ltd.

Website

https://fng.com

Company type

Private

Founded year

1949

Operating status

Operating

Headcount range

11–50 employees

Short description

Friede & Goldman is a privately held Houston-based independent designer of offshore vessels and rigs founded in 1949, serving offshore drilling contractors and wind developers with jack-up rigs, semi-submersibles, drillships, Wind Turbine Installation Vessels, and proprietary equipment including the ARCOS rack chock and BargeRack systems.

Ownership category

akta.pro rank

Product category

Offshore Engineering and Vessel Design

NAICS

Oil and Gas Field Machinery and Equipment Manufacturing (333132), Mining and Oil and Gas Field Machinery Manufacturing (33313)

SIC

Oil & Gas Field Machinery & Equipment (3533), Drilling Oil & Gas Wells (1381), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

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

akta.pro secondary industries

Drillship & Semi-submersible Rig Hull Construction (IMAJACAB), Offshore Wind & Renewable Support Vessel Construction (SOV, CTV, WTIV) (IMAJACAG), Pipe-lay & Heavy-lift Offshore Vessel Construction (IMAJACAE), Oilfield Equipment Manufacturing & Supply (Wellheads, BOPs, Surface Equipment) (EUALABAL)

Keywords

• Offshore rig design
• Naval architecture services
• Offshore vessel engineering
• Drilling rig design
• Offshore wind vessels

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Offshore Vessel and Rig Design Services: Engineering and design services for offshore vessels, rigs, and equipment. Revenue generated through project-based design contracts for new builds, conversions, and modifications.
2. Equipment Design, Supply, and Support: Design, supply, and support of offshore energy equipment including jacking systems, rack chock systems, handling systems, and bespoke equipment solutions. Revenue from equipment sales and aftermarket support including spare parts.
3. Consulting Services: Project management and subject matter expert consulting provided on a bespoke project basis across offshore drilling and renewables industries.
4. Field Support and Rig Move Services: On-site and remote technical support, rig move planning and execution, operational support during positioning and elevation processes, and spare parts supply.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Friede & Goldman is the world's leading independent designer of offshore vessels and rigs, providing comprehensive engineering design services for jack-up drilling rigs, semi-submersibles, drillships, and wind turbine installation vessels. The company supplies proprietary equipment such as ARCOS rack chock systems, jacking systems, and BargeRack technology, alongside field support, rig move, and consulting services for the offshore oil & gas and renewables industries.

Product overview

Friede & Goldman is the world's leading independent designer of offshore vessels and rigs, offering a comprehensive portfolio of products and services. Their core offerings include jack-up drilling rigs (JU2000E, JU-2000A, SuperM2, Mod II), semi-submersible drilling rigs (Millennium 2400D, ExD Series), and drillships (DS series 3810 & 4500). They have expanded into renewable energy with Wind Turbine Installation Vessels (WindSetter 156, 146, 114M), the patented BargeRack technology for feeder solutions, and Floating Offshore Wind Turbines (FOWTs). Special purpose vessels include Cable-Laying Vessels, Semi-Submersible Crane Vessels, and Lift Boats. Their equipment portfolio features Jacking Systems, the Rack Chock System (ARCOS), and Simultaneous Pipe Handling Systems. Services include Offshore Engineering (concept design through shipyard delivery), Field Support & Rig Move Services, Consulting, and Spare Parts Supply. The company was founded in 1949 and has delivered designs for more than 282 rigs and vessels at over 30 shipyards in 20 countries.

Differentiator

Problem solved

Functional benefit

Brands

• WindSetter: Series of Wind Turbine Installation Vessels (WTIVs) designed for offshore wind farm installation, including WindSetter 156 (3500mt crane), WindSetter 146 (3200mt crane), and WindSetter 114M for operations and maintenance.
• BargeRack
• ARCOS (Advanced Rack Chock Operating System)

Products and services

• JU2000E Jack-up Drilling Rig High-spec jack-up drilling rig designed for operations in up to 400 ft (122 m) water depths, suitable for worldwide operations including North Sea harsh environment. Features upgradable design for improved drilling capacity, water depth, and environmental conditions.
• JU-2000A Jack-up Drilling Rig Premium jack-up design capable of drilling in water depths of up to 350 ft. Combines proven technology with innovative features such as extended cantilever reach.
• SuperM2 Jack-up Drilling Rig Enhancement of Mod II design with increased deck area and higher variable load capacity. Features high-spec cantilever and drill floor with large drilling envelope.
• Mod II Jack-up Drilling Rig Self-elevating drilling unit designed for all-year Central North Sea environment operations in approximately 300 ft (91 m) of water. Known for durability and longevity.
• Millennium 2400D Semi-Submersible Mid-water semi-submersible designed for efficient well construction, field development, completion and well testing with enhanced offline activities. Typical configuration is DP mode up to 7,800 ft (2,400 m) water depth.
• ExD Series Semi-Submersible Modern semi-submersible with customizable options ranging from self-contained moored version to combination moored/DP and DPS-3 configurations, operating in up to 12,000 ft (3,700 m) water depth.
• DS Series Drillship Deepwater drillship capable of drilling 40,000 ft wells in up to 12,500 ft (3,810 m) of water. Engineered for 90 days autonomy with dual derrick and high functional deck spaces.
• WindSetter 156 WTIV Wind Turbine Installation Vessel designed to upgrade capability and install 22MW+ wind turbines and XXL foundations. Features 3500mt crane capacity.
• WindSetter 146 WTIV Wind Turbine Installation Vessel optimized to efficiently install 20MW+ wind turbines. Features 3200mt crane capacity.
• WindSetter 114M WTIV Operations and Maintenance vessel for 20MW+ wind turbines featuring flexible crane options with 1300mt high reach folding and telescoping boom configurations.
• BargeRack Patented fork-lift type system for Wind Turbine Installation Vessels capable of lifting feeder barges and turbine components out of the water for motionless and safer offloading. Jones Act compliant.
• Floating Offshore Wind Turbine (FOWT) Floating offshore wind solutions offering multiple FOWT hull types and flexible designs for various environments with superior motion characteristics and shallow transit draft.
• Cable-Laying Vessels (CLVs) Vessels providing cable installation solutions for both shallow and deep-water projects, covering inter-array, export, and interconnector cables. Includes multipurpose cable-laying vessels and barges.
• Semi-Submersible Crane Vessels (SSCVs) Vessel capable of offshore heavy lifts up to a combined 12,000mt and deepwater pipe-lay projects. Well suited for installing and removing jackets, topsides, modules, foundations, and moorings.
• Lift Boats Self-elevating platforms equipped with cranes and accommodations for third-party crews. Ideal for maintenance, workovers, pipeline and well repairs, rig support, salvage, and specialized drilling.
• Jacking Systems Critical components for jack-up vessels using latest technology with enhanced VFD system, heavy duty load ratings, high cycle systems, and multiple component supplier options.
• Rack Chock System (ARCOS) Patented Advanced Rack Chock Operating System providing safety, reliability, and performance for jack-up rigs. Enhances ability to withstand harsh environments including hurricanes. Installed on approximately 130 F&G jack-ups for over 40 years.
• Simultaneous Pipe Handling System (SPHS) Specialized handling system for offshore drilling operations designed to improve efficiency and safety during pipe handling operations.
• Offshore Engineering Services Comprehensive engineering services including concept design, basic design, conversion and life cycle engineering, and tender support for offshore projects.
• Field Support and Rig Move Services On-site and technical expertise for rig moves including pre-move engineering, towing and transit analysis, on-site operational support, and spare parts supply.
• Offshore Consulting Services Expert consulting services in marine engineering and naval architecture provided on a bespoke project basis across offshore drilling and renewables industries.

Quantifiable outcome

• 280+ rigs and vessels delivered across 20+ countries and 30+ shipyards
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• DEME GroupcoreStrategic or Co-development Partner · 1 January 2010F&G performed all basic design items for the DEME Innovation vessel including jacking system design, leg/hull interface, legs, spudcans, and elevated in-place analyses. F&G entered offshore wind through this design consortium for a new generation Wind Turbine Installation Vessel.
• ZPMCcoreTechnology or Integration · 1 January 2000Strategic collaboration with ZPMC (Zhenhua Port Machinery Company) to co-develop proprietary high-capacity jacking systems now used across the offshore industry globally.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• TechnipFMC: Integrated subsea, surface, and offshore project provider that bundles design with EPC — competes for the same drilling and floating production unit projects as F&G.
• Damen Shipyards: Global shipbuilder with an offshore and wind vessel portfolio (incl. SOVs, CTVs, WTIVs) — competes with F&G's renewables design business and is also a customer for specialized engineering.
• Keppel Offshore & Marine: Major Asian shipyard group that builds jack-ups, semi-submersibles, and drillships to its own and licensed designs — adjacent competitor with shipbuilding scale F&G lacks.
• NOV (National Oilwell Varco): Global oilfield equipment and technology provider with offshore rig equipment, jacking systems, and integrated rig packages — overlaps with F&G's equipment supply business (ARCOS, jacking systems).
• Aker Solutions: Large Norwegian offshore engineering and EPC firm with a portfolio of drilling, production, and subsea designs — competes with F&G on jack-up and semi-submersible design scope as part of broader project execution.

Direct peers

• Huisman: Dutch designer and manufacturer of offshore equipment including cranes, jacking systems, and pipelay/heavy-lift vessel designs — overlaps with F&G's equipment supply and offshore vessel design business.
• VARD: Norwegian offshore and specialized vessel designer/builds offshore wind, SOV, and cable-lay vessels — directly comparable to F&G's WindSetter and special purpose vessel design work.
• Ulstein: Norwegian ship design and shipbuilding group specializing in offshore vessels, including offshore wind installation/service vessels — a direct competitor in the WTIV and special-purpose vessel design market.
• GustoMSC: Independent offshore rig and vessel designer (jack-ups, semi-submersibles, drillships) that directly competes with F&G for newbuild design mandates from operators and shipyards worldwide.

Regional players

• Shanghai Waigaoqiao Shipbuilding (SWS): Major Chinese shipyard that has built F&G-designed jack-ups and semi-submersibles — competes regionally in Asia for newbuilds and offers in-house design capability on certain hull forms.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCwHzPWxw9cU7SRtNT25fdJw
• LinkedInlinkedin.com/company/friede-goldman-offshore-west

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Friede & Goldman