COSL Bags $1,92B Worth of Offshore Drilling Service Deals in Middle East

Bartolomej Tomic
Tuesday, October 25, 2022

Chinese offshore drilling contractor China Oilfield Services Limited (COSL) said Monday it had recently signed several long-term drilling rig service contracts in the Middle East. 

The contracts are worth around RMB14 billion (~$1,92 billion) in total, COSL said.

COSL called the client a "first-class international oil firm" but didn't name them.

The offshore drilling company did not say how many drilling rigs were covered by the agreement.

COSL said the contract marked a new stage of deepening cooperation between COSL and international oil companies in various fields of oilfield exploration and development.

Back in September, in its half-year 2022 review, COSL said it had continued cultivating the Middle East market, and said it had entered into the “5+2” year operation contracts for three drilling rigs with "high-end customers."

As of 30 June 2022, COSL operated and managed a total of 57 drilling rigs, including 44 jack-up drilling rigs and 13 semi-submersible drilling rigs. 

Categories: Middle East Drilling Industry News Activity Oilfield Services Drilling Rigs

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