COSL Pens $1.9 Billion Worth Of Drilling Deals

Offshore driller China Oilfield Services Limited (COSL) has been awarded several deals worth $1.9 billion for the provision of drilling rig services by an undisclosed oil company in the Middle East.

COSL said that it was awarded several long-term drilling rig service contracts with what the company described as “a first-class international oil company” in the Middle East.

According to the Chinese firm, these deals are worth approximately RMB 14 billion or around $1.9 billion.

“This indicates a new stage of deepening cooperation between the company and international oil companies in various fields of oilfield exploration and development, and also indicates that the international operation management capacity and service quality of the company has been fully recognized by international first-class oil companies,” COSL said.

After the implementation of the project, the overseas business service of the company in the Middle East will form a new market pattern of all-round integration into the Arabian Gulf, all-round community formation, and all-round promotion of high-quality development.

In this cooperation, COSL will fully activate the large-scale operation capability of its largest offshore drilling service fleet in the world, and upgrade and speed up to ensure the implementation of oilfield exploration and development needs of key customers.

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