COSL Signs Deal with CNOOC's Unit to Charter Newbuild Jackup HYSY 932

China Oilfield Services Limited (COSL or the Group), the leading integrated oilfield services provider in offshore China, announced Monday that it has recently entered into a contract with CNOOC International Financial Leasing Co., Ltd. (Financial Leasing Company) for the charter of a new 300-feet jackup – HYSY 932 (300' ILC) from Financial Leasing Company for a period of five years.

HYSY 932 is designed to operate at water depths of 300 feet and is capable of drilling into depths of up to 30,000 feet. The jackup has arrived at Bohai Bay and commenced drilling services for clients.

The chartering of HYSY 932 demonstrates COSL’s efforts in enhancing overall competitiveness by three-way approach of “Charter, Buy and Build” to enter into the market quickly as well as mitigate investment risks.


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