1、2004Annual ReportI n v e s t m e n t L e d g e rNabors Industries ltd.forshareholdersforCustomersforEmployeesInvestment Ledgerissued byNabors Industries LTD.A detailed index of our Investments I N V E S T M E N T M E T R I C Investing to generate superior returns Higher Profitability Greater Efficie
2、ncy Lower Costs Fewer Injuries SafetyInitiativesTechnology&SystemsAssetEnhancementsMarketExpansionInvestments in safety initiativesR E T U R NThe success of any Nabors safety program will always be measured in recordableincidents and we are already seeing a further reduction in this important yardst
3、ick.The safest rigs are always the most efficient and the most productive,which yieldsancillary benefits for both Nabors and our customers.I N V E S T M E N TNabors continued to make health,safety and environmental protection ourhighest priority in 2004,continuing a ten-year program that has seen th
4、eCompanys performance in each of these areas improve to the point wherethey far surpass industry averages.However,we have reached a level of accom-plishment such that further improvement requires a fresh approach,which webelieve we have achieved in our re-engineered safety initiative that begins wit
5、h our Chief Executive Officer and permeates every level of the organization.05 investment Return 19981999200050403020100the paradoxof reducing 06 Man-hours per Yearin millions1997 investment Return 2001200220032004OSHARecordableRate80642accidents while adding peoplewhile manhours increase naborsinci
6、dence ratedecreasesour goal 07 investment Return pushing safety 08 Industry statistics nationwide reveal that for every10,000 unsafe acts there are 1,000 near misses or incidents that require first aid;100 restricted work casesor cases that require medical treatment only;10 lost-time accidents;and u