UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 5 ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP ( ) Check box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instructions 1(b). ( ) Form 3 Holdings Reported ( ) Form 4 Transactions Reported 1. Name and Address of Reporting Person Maha A. R. Razzuqi Kuwait Petroleum Corporation P. O. Box 26565 Safat , 13126 2. Issuer Name and Ticker or Trading Symbol GlobalSantaFe Corporation (GSF) 3. IRS or Social Security Number of Reporting Person (Voluntary) 4. Statement for Month/Year 12/2002 5. If Amendment, Date of Original (Month/Year) 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) (X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other (specify below) Director 7. Individual or Joint/Group Reporting (Check Applicable Line) (X) Form filed by One Reporting Person ( ) Form filed by More than One Reporting Person

Explanation of Responses: 1. Grant of option to buy ordinary shares under the GlobalSantaFe Corporation 2001 Long-Term Incentive Plan. The options become exercisable in 50% increments on May 13, 2003 and May 13, 2004 respectively. SIGNATURE OF REPORTING PERSON Maha A. R. Razzuqi /s/ Maha A. R. Razzuqi

RAZZUQI MAHA ABDUL RAZZAQ 5