China Oilfield Service Inks First Overseas Deal

E-View, a Chinese news source, has reported that China Oilfield Service Limited (COSL) signed its first overseas directional geothermal well service contract with the Philippine National Oil Corporation (PNOC).

The report stated that under the two-year contract, COSL will provide engineering and technological services to 34 PNOC directional geothermal wells. Without going into specific numbers, sources revealed to E-View that it was a multi-million US dollar contract.

Most of the operations performed by COSL are carried out offshore China. The company has been listed on the Hong Kong Stock Exchange since 2002.

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