Diverse forms of offshore oil and gas structures are utilized for a wide range of purposes and in varying water depths. They are designed for unique environments and water depths around the world. The applications of these offshore structures require different activities for proper equipment selection, design of platform types, and drilling/production methods. This paper will provide a general overview of these operations as well as the platform classifications. In this paper, a comprehensive review is conducted on different offshore petroleum structures. This study examines the fundamentals of all types of offshore structures (fixed and floating), as well as the applications of these concepts for oil exploration and production. The study also presents various design parameters for state-of-the-art offshore platforms and achievements made in the industry. Finally, suitable types of offshore platforms for various water depths are offered for long-term operations. An extension of this study (Part II) covers sustainable design approaches and project management on these structures; this review helps designers in understanding existing offshore structures, and their uniqueness. Hence, the review also serves as a reference data source for designing new offshore platforms and related structures.