<PAGE>

                                                                    EXHIBIT 23.1

                       CONSENT OF INDEPENDENT ACCOUNTANTS


We hereby consent to the incorporation by reference in this Post-Effective
Amendment No. 2 to Registration Statement on Form S-8 (Registration No.
333-91743) of our report dated January 23, 2002, except for Note 16, as to which
the date is March 18, 2002, Notes 1, 2, 7, 12 and 15, as to which the date is
August 20, 2002, and Note 17, as to which the date is October 10, 2002, relating
to the consolidated financial statements, which is included in Nabors Industries
Ltd.'s Current Report on Form 8-K dated October 10, 2002. We also consent to the
incorporation by reference of our report dated January 23, 2002 relating to the
financial statement schedule, which appears in Nabors Industries, Inc.'s Annual
Report on Form 10-K for the year ended December 31, 2001.

/s/ PricewaterhouseCoopers LLP

Houston, Texas
November 6, 2002

