COSL updates on rig contracts

Offshore staff

BEIJING – China Oilfield Services Ltd. (COSL) has entered into a contract with CNOOC International Financial Leasing Co. Ltd. to charter the new 300-ft (91-m) jackup rig HYSY932 from Financial Leasing Co. for a period of five years.

HYSY932 is designed to operate at water depths of 300 ft (91 m) and is capable of drilling into depths of up to 30,000 ft (9,144 m). The rig has arrived at Bohai Bay and has begun drilling services for clients.

On April 7, COSL renewed its cooperation contract for theCOSL3 module rig with PEMEX for an operational period of 32 months at higher contract day rates. The COSL3module rigs will begin operation by the end of May.

Since November 2013, COSL has renewed contracts for its first batch of module rigs (COSL1, COSL2, COSL3, and COSL4) in the Gulf of Mexico at higher contract day rates. The fifth new module rig has been towed to the Gulf of Mexico for installation and examination.

04/30/2014