<SUBMISSION>
<ACCESSION-NUMBER>0001163739-08-000009
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20080131
<FILING-DATE>20080204
<DATE-OF-FILING-DATE-CHANGE>20080204
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>PETRELLO ANTHONY G
<CIK>0001195669
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>001-32657
<FILM-NUMBER>08572276
</FILING-VALUES>
<MAIL-ADDRESS>
<STREET1>NABORS CORP SERVICES
<STREET2>515 W GREENS RD SUITE 1200`
<CITY>HOUSTON
<STATE>TX
<ZIP>77067
</MAIL-ADDRESS>
</REPORTING-OWNER>
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>NABORS INDUSTRIES LTD
<CIK>0001163739
<ASSIGNED-SIC>1381
<IRS-NUMBER>980363970
<STATE-OF-INCORPORATION>D0
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>MINTFLOWER PLACE
<STREET2>8 PAR-LA-VILLE ROAD
<CITY>HAMILTON, HM08
<STATE>D0
<ZIP>0000
<PHONE>2464219471
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>P O BOX HM3349
<CITY>HAMILTON, HMPX
<STATE>D0
<ZIP>0000
</MAIL-ADDRESS>
</ISSUER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-01-31</periodOfReport>

    <issuer>
        <issuerCik>0001163739</issuerCik>
        <issuerName>NABORS INDUSTRIES LTD</issuerName>
        <issuerTradingSymbol>NBR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001195669</rptOwnerCik>
            <rptOwnerName>PETRELLO ANTHONY G</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O NABORS CORPORATE SERVICES</rptOwnerStreet1>
            <rptOwnerStreet2>515 WEST GREENS ROAD</rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77067</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>PRESIDENT AND COO</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-01-31</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2008-01-31</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>50074</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>26.78</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3114685</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Owned directly or indirectly by revocable trust of which the Reporting Person is a trustee and as to which the Reporting Person has voting and dispositive power.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Lisa Wysocki by Power of Attorney for AnthonyG. Petrello</signatureName>
        <signatureDate>2008-02-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>powerofattorney.txt
<DESCRIPTION>POWER OF ATTORNEY LETTER
<TEXT>
Know all by these present, that the undersigned hereby constitutes and appoints
each of Bruce Taten and Lisa Wysocki signing singly the undersigned's trues and
lawful attorney-in-fact to:
(1) execute for and on behalf of the undersigned's capacity as an officer and/
or director of Nabors Industries Ltd. (the "Company") Forms 3, 4, and 5 in
accordance with Section 16(a) of the Securities Exchange Act of 1934 and the
rules thereunder.
(2) do and perform any and all acts for and on behalf of the undersigned
which may be necessary or desirable to complete and execute any such Form 3,4
or 5 and timely file such form with the United States Securities and Exchange
Commission and any stock exchange or similar authority; and
(3) take any other action of any type whatsoever in connection with the fore
going which, in the opinion of such attorney-in-fact may be of benefit to in
the best interest of or legally required by the undersigned it being under
stood that the documents executed by such attorney-in-fact on behalf of the
undersigned pursuant to this Power of Attorney shall be in such form and shall
contain such terms and conditions as such attorney-in-fact may approve in
such attorney-in-fact's discretion.
The undersigned hereby grants to each such attorney-in-fact full power and
authority to do and perform any and every act and thing whatsoever requisite
necessary or proper to be done in the exercise of any of the rights and
powers herein granted as fully to all intents and purposses as the under-
signed might or could do if personally present with full power of
substitution or revocation hereby ratifying and confirming all that such
attorney-in-fact or such attorney-in-fact's substitute or substitute's
shall lawfully do or cause to be done by virtue of this power od attorney
and the rights and powers herein granted.  The undersigned acknowledges
that the foregoring attornys-in-fact in sering in such capacity at the
request of the undersigned are not assuming nor is the Company assuming
any of the undersigned's responsibilities to comply with Section 16 of the
Securities Exchange act of 1934.
This Power of Attorney shall remain in full force and effect until the
undersigned is no longer required to fil Forms 3, 4 and 5 with respect to
the undersigned's holdings of and transactions in securities issued by the
Copany unless earlier revoked by undersigned in a signed writing delivered to
the foregoing attorneys-in-fact.
IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be
executed as of this 15th day of October 2003.
Anthony G. Petrello
</TEXT>
</DOCUMENT>
</SUBMISSION>
