Sentence examples for drilling contract from inspiring English sources

The company's president and chief executive, Steven Newman, said in a conference call last month that "under our drilling contract for the Horizon, BP has agreed to assume full responsibility for the costs and the liability of pollution and contamination".

BP, which is based in London, must indemnify Halliburton for compensatory damage claims under its drilling contract, Judge Carl J. Barbier of the United States District Court in New Orleans ruled on Tuesday.

The door was opened to huge and lucrative British deals with Libya: Shell signed a large gas exploration contract; and BP signed a £15bn oil drilling contract with Libya which became known as "the deal in the desert".

Beverly Blohm Stafford, a Halliburton spokeswoman, said that the company "remains confident that all the work it performed with respect to the Macondo well was completed in accordance with BP's specifications for its well construction plan and instructions," and so Halliburton, she said was protected from liability through indemnity provisions of its drilling contract.

Its shares gained 2.3% Thursday after the company said it won a lucrative drilling contract from BP.

Technological sophistication, access to lines of credit, and reputation can also weigh on whether or not a government awards a mining or drilling contract to a particular company.

At Seahawk Drilling, a major shallow-water operator with 20 rigs, only seven rigs have drilling contracts with oil companies.

The bribes went to extend drilling contracts for offshore rigs in Venezuela, to settle a customs dispute in India and to avoid duties on drilling equipment in Mexico.

Any company that has been known to flagrantly circumvent environmental protections should be disqualified from competing for any new offshore drilling contracts.

In some instances, oil companies are invoking what is known a "force majeure" clause in their drilling contracts with rig owners.

The ministry has been telling companies looking for exploration and drilling contracts to give unusually large upfront loans before they can be considered for long-term deals.