COSL Acquires Semisubmersible to Boost Drilling Fleet
China Oilfield Services Limited (COSL or the Group) announced that it has recently purchased an aftermarket semisubmersible, which has been named “NH9” upon its addition to the Group's drilling fleet.
NH9 is able to operate at water depths of 5,300 feet and perform drilling up to a maximum depth of 25,000 feet, with a variable load of 3,798 tons. It has capabilities for drilling, completion and workover operations. Targeting at serving contracts for China waters as well as overseas markets, NH9 is expected to commence operations by the end of 2013 after restorative maintenance.
The procurement of NH9 represents an important initiative by COSL to further address the demand for deepwater exploration and development in China waters, scaling up its operation capacities and enhancing its equipment structure. This will lend support to the Group's results growth for 2014, as well as driving the healthy development of the Group's deepwater business.
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