drilling contract

Oil & gas. A well-drilling agreement between a drilling contractor, who owns drilling rigs and associated equipment, and the owner or lessor of the mineral rights.

• The contract spells out the rights and duties of the parties. In general, the more control the interest-owner retains over the contractor, the more liability the owner is exposed to for damages the drilling causes.

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词条贡献者

双语律师郭敏，国际知名商学院金融专业，擅长翻译各类与金融衍生品与结构化产品相关的法律文件。