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NABORS INDUSTRIES ANNOUNCES ACQUISITION

 NABORS INDUSTRIES ANNOUNCES ACQUISITION
 HOUSTON, Jan. 15 /PRNewswire/ -- Nabors Industries, Inc. (AMEX: NBR)


today announced the acquisition of three international land rigs and related logistical equipment from Noble Drilling Corporation, effective Jan. 2, 1992.
 The three rigs are located in Syria, Malaysia and Thailand. The rigs in Syria and Malaysia are presently working and the rig in Thailand has recently finished a two year contract. These rig acquisitions are consistent with a Nabors objective to develop further its international land drilling business both through internal growth, including the redeployment of rigs from the company's large, modern North American land rig fleet to various international markets, and, in certain cases, through the acquisition of high quality international land rigs.
 The Syrian land rig acquired from Noble, together with two rigs acquired on Aug. 8, 1991 from Challenger Drilling, brings to 20 the number of land rigs which Nabors presently is operating in the Middle East, up from eight at the beginning of January last year.
 Nabors Industries is one of the largest international land drilling contractors, operating 100 land and 16 offshore rigs. Nabors is a major participant in most of the significant oil, gas and geothermal drilling markets in the world, including Alaska, the Middle East, South America, the North Sea, the Far East, Canada, the U.S. "lower 48" and the Gulf of Mexico. In addition, Nabors provides oilfield transportation and other support services in Alaska and the Middle East.
 -0- 1/15/92
 /CONTACT: Harris Kaplan, director-investor relations of Nabors Industries, 713-874-0035/
 (NBR) CO: Nabors Industries, Inc. ST: Texas IN: OIL SU: TNM


JT -- NY047 -- 9969 01/15/92 11:55 EST
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Date:Jan 15, 1992
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