COSL Names New Jackup 'WilSeeker'

China Oilfield Services Ltd.

COSL has successfully hosted a naming ceremony in Singapore for its new 375-feet jackup drilling rig WilSeeker.

WilSeeker was commissioned by Awilco to be built by Singapore's PPL Shipyard. Upon completion of COSL's acquisition into Awilco, WilSeeker becomes a member of COSL's fleet of drilling rigs. WilSeeker belongs to a category of rigs that feature advanced functionalities and cutting edge technology, enabling delivery of high quality, highly efficient services to clients.

Upon delivery for operation and completion of a short term training for the crew members, this rig will be dragged to the Bohai Region to service under a two-year contract in conjunction with Wilboss & WilSuperior, with contract fees being set at rates to those changed by rigs in the same category in the international market.

Speaking at the naming ceremony, Yuan Guangyu, Vice Chairman, CEO and President of COSL, said, "WilSeeker's commencement of operation marks another important milestone in COSL's efforts spent in upgrading its competitiveness in the drilling business. It lays the foundation for COSL to boost its capacity and enhance its capability. WilSeeker, when dragged to the Bohai Region to operate in conjunction with Wilboss & WilSuperior, will increase COSL's supply of drilling rigs for the domestic market in China and help alleviate the tightness in supply of drilling rigs in the domestic market."