COSL's NH9 Semisub Completes First Deepwater Assignment

China Oilfield Services Limited (COSL or the Group) reported Monday that its semisubmersible drilling rig NH9 or Nanhai IX (DW semisub) recently completed drilling operations for the first 3,281 foot (1,000-meter) deepwater well. This achievement has made NH9 the second drilling rig included in the league of “3,281-foot (1,000-meter) deep drilling” after HYSY981 or Hai Yang Shi You 981 (UDW semisub). This success made in the inaugural drilling operation of NH9 has taken deepwater drilling operations of the Group to a new level with further refinements in deepwater drilling technologies and equipment portfolio. This establishes a firm footing for large-scale exploration and development activities in the future.

NH9 is the deepest operation depth semisubmersible drilling rig put into operation by COSL in addition to HYSY981. It is a fourth-generation drilling rig with designed operation depth of up to 5,000 feet (1,524 meters) and the maximum drilling depth of 25,000 feet (7,620 meters).

Li Yong, CEO and president of COSL, said: “Levering efforts by the COSL’s team in establishing a deepwater drilling equipment portfolio, the Group seen its deepwater drilling capability enhance further. This helped COSL tap the escalating demand for deepwater operation in South China Sea. The Group will adhere to its positioning of establishing world-class capabilities to continue to increase investments in furthering its deepwater capabilities, research and development. This will help COSL move closer to his goal of becoming a top-notch oilfield services Group with cutting edge equipment, technologies and scientific management."


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