According to the contract, COSL will follow the requirement of the operation market of EDC and provide them a series of well services such as TCP perforation and chemical incision. This contract can broaden COSL's operations in the Cheng Dao Xi region, further develop the EDC market, and increase the possibility of expanding the market share.
COSL's operational team has begun providing relevant operation services on site. COSL's CEO & President, Mr. Yuan Guangyu said: "COSL awarded this contract symbolizes a significant achievement in the well services. From now on, we have to work hard on exploring market, expanding the market share, carrying out firmly the strategy of expanding abroad and speeding up the progress of internationalization in terms of every business segments."
EDC began as an independent energy development company in the U.S. Its services cover oil and gas exploration and also the operation of electricity exploitation. Apart from the exploitation and exploration operations in the U.S., EDC has expanded its petroleum business in China, the U.K., Argentina and elsewhere. In 1997 EDC acquired Amoco Oriental Petroleum Corp., making it the only foreign company in Cheng Dao Xi.
COSL is the leading integrated oilfield services provider in the offshore China market. Its services cover each phase of offshore oil and gas exploration, development and production. Its four business segments are drilling services, well services, marine support and transportation services and geophysical services.
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