Nanhai II to Start New Overseas Contract

China Oilfield Services Limited says that its semisub, Nanhai II, will start a new international contract for MEDCO MOECO Langsa Ltd. ("MML") in December 2006, providing MML with drilling and well workover services.

Nanhai II will begin operations in LANGSA district in Indonesia, upon the completion of the Genting Project, with an operation period of approximately three months.

Mr. Yuan Guangyu, CEO and President of COSL, said, "Our senior management, together with all staff members, have always been dedicated to enhance the revenue contribution of international business and develop COSL into a top-class international oilfield services company. Over the past year, the Company has achieved remarkable performance in the overseas market, of which Nanhai II secured successive overseas contracts. We will continue to increase capital investment in expediting international operations while proactively strengthening the Company's competitiveness, with a view of offering premium services and creating a win-win situation to our clients."

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