Newbuild COSLGift Heads for Southeast Asia for First Assignment

China Oilfield Services Limited (COSL or the Group), a leading integrated oilfield services provider in offshore China, announced Thursday that COSLGift (375' ILC), the jackup newly acquired by the Group, had completed construction, been delivered and has set sail to Southeast Asia to perform operations there.

COSLGift, acquired in August 2013, is a high-end jackup of the same model as COSLHunter (375' ILC) which was delivered in early December 2013. This is among one of world’s mainstream jackup models. COSLGift is capable of operating at water depths of 375 feet and perform drilling operations at depths of up to a maximum of 30,000 feet, with maximum persons count on board at 124 crew members and a variable load of 3,500 tons. It sets sail to Southeast Asia and is expected to start operation in mid-to-late January 2014, while its sister COSLHunter had been towed to Gulf of Mexico to perform operation in early December 2013.


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