COSL Signs Construction Agreement

China Oilfield Services Limited reports that China Merchants Heavy Industry (ShenZhen) Co., Ltd. and Dalian Shipbuilding Industry Co., Ltd. were awarded, via tender process, the construction of two 350' jackups. China Merchants Heavy Industry (ShenZhen) Co., Ltd. and Dalian Shipbuilding Industry Co., Ltd. are both qualified shipbuilding companies in the People's Republic of China with extensive experience in shipbuilding and management. The two new drilling rigs, being named "COSL 936" and "COSL 937", are expected to be delivered by end of 2009.

The investment in the construction of the new drilling rigs will further enhance COSL's fleet

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