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The Marine International Drilling Contract

Taylor Hancock, Offshore Exploration, Drilling and Development (1975)

1.Back in 1971 I was assisting my company in putting together a Drilling Contract between Global Marine as Drilling Contractor using our drilling ship Glomar V, for a drilling program in the waters of Senegal for TOTAL, one of the many firms in the maze of French operating oil companies, all of which are part of the French governmental complex. After several days of friendly but very intense negotiations we had finally reached agreement on all of the contract terms and conditions; and we were arranging the mechanics of the actual execution of the contract documents.

2.At this point, as is typical, the principals are willing to turn the formalities of the actual execution of the documents completely over to the legal representatives of the parties. My counterpart, representing the French oil company, happened to be a very charming and highly competent French woman lawyer. We were working with each other to put together all of the several counterparts of the Contract, each with numerous lengthy exhibits attached.

3.Since we had gone through many drafts of the contract documents over a period of several days of hard negotiations, I wanted to be sure that we had all of the right pages together in the final Contract, and that each copy of the Contract was identical with the other copies, and with all the correct pages properly inserted.