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The latest version of the IADC Land Contract was released in November 2013. Various incidents, including Macondo, delayed the release. “It’s an industry contract…

Video: Next IADC Land Contract update to start in 2016

[youtube]https://www.youtube.com/watch?v=PnOJrk3PIrM[/youtube]

The latest version of the IADC Land Contract was released in November 2013. Various incidents, including Macondo, delayed the release. “It’s an industry contract. We work with it everyday. When we pull everyone together again, comments are taken into consideration at meetings,” Ernie Nelson, IADC Contracts Committee Vice Chairman – Land, said. Speaking at the 2014 IADC Contracts and Risk Management Conference in Houston on 14 October, Mr Nelson encouraged more industry participation in the committee. The committee will begin updating and redrafting the contract in 2016 for an intended release in 2018.

In 2012, Mr Nelson, Vice President of Contracts with Nabors Drilling, received the IADC Exemplary Service Award for his leadership with the contracts committee.

Click here to learn more about the IADC Contracts Committee.

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