COSL Acquires 2 Newbuild Jackups

China Oilfield Services Limited (COSL), an integrated oilfield services provider in the offshore China market, announced Monday that it has recently acquired two newbuild jackups, which are currently under construction in China.

The two new GustoMSC CJ46-designed jackups, which are constructed by China Merchants Heavy Industry (Shenzhen) Co., Ltd., will be named COSLHunter and COSLGift. These jackups have already secured contracts and will be deployed in market outside China after delivery later this year.

Each of the two jackups, which can operate in water depths of 375 feet and drill to 30,000 feet, has accommodation for 124 crew members and a variable load of 3,500 tons.

"Handover of the construction contracts of the two jackups has been completed in the shipyard. Completion and delivery of the jackups are scheduled for the fourth quarter of 2013," COSL said in a company statement.

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