Tony Petrello has been in Nabors Industries since 1991. He was elected to join the Nabors Board of Directors the same year and also joined the Executive Committee of the Board. So how did he join Nabors? Where was he before Nabors? The influential leader is a graduate of Yale University and Harvard University. He has a background in Mathematics though he changed from Mathematics to Law where he studied at Harvard. He began his career in 1979 where he started off at Baker & Baker McKenzie. He rose to become a Managing Partner.
He, later on, joined Nabors Industries in 1991 and became the Chief Operating Officer. He became the President in 1992. His tremendous achievements saw him become the Deputy Chairman of the same company from 2003-2012. Since 2012, he took up the role of Chairman of the Board at Nabors Industries. Nabors Industries was founded in 1968 and is involved in drilling services. It offers its services globally and has grown to become one of the largest oil drilling companies. The company’s operations are in onshore and offshore drilling. It manufactures drilling equipment and comes up with the advanced software involved in rig reporting. Its employee base has grown tremendously to over 27,000 employees.
Through Petrello’s administration, the company has been able to operate in 25 countries all over the world. In 2014, he was among one of the highly paid CEOs in the US. Being a leader calls for making tough decisions and being able to figure out ways to the success of the company. For Petrello, he has been a strategist who has been able to facilitate the achievement of Nabors. His selfless nature is evident in his contract at Nabors. 80% of his income is based on the company’s revenue which means that if the sales decline, his salary also declines. His company has been able to create more jobs. Nabors has over 1050 rigs that have created employment opportunities for over 100,000 people. His humble beginnings have made him accomplish what he has today as he has worked tirelessly to achieve all he has.
Some of the most significant deals Nabors has had was in 2010 when it purchased Superior Well Services at $735 million. 2nd June 2017 saw Nabors sign a Memorandum of Understanding with Gazprom, a leader in the Russian Oil Industry. The company has also been involved in the acquisition of Robotic Drilling Systems which is a drilling company based in Norway.