New Prospective on Drilling Contracts

Today’s energy reauiraments have produced an increase in drilling activities all around the world. Among this situation is the fact that all the operators are trying to minimize cost without reduction in quality. So, they are looking for new types of contracts between all drilling companies, contractors and suppliers until that with make agreement between them have successful operations. In this paper, we will try to present some traditional types of drilling contract (turnkey drilling contract) together with advantage and critique of them and finally some experience of operators in choosing new types of drilling contract will be said. These type of drilling contract based on “Bouns-Penalty” that may be called new foster drilling contract