COSL inks MOU with Xcite Energy

Shanghai: Singapore-listed Xcite Energy announces that its wholly-owned subsidiary, Xcite Energy Resources, has entered into a Memorandum of Understanding with China Oilfield Services Limited (COSL), setting out the principles for the provision of a newbuild Keppel FELS N Class Plus jack-up drilling rig, together with equipment and personnel for the Bentley field.

Final specifications of the rig are currently being agreed in order for construction to begin at the Keppel FELS yard in Singapore.

"We are very pleased that COSL has joined the Bentley development team and this marks the last of the key development group roles to be filled.  COSL has considerable experience in drilling operations and we believe they possess the skills and expertise to work alongside our other partners in our collaborative and innovative model," said Rupert Cole, ceo of Xcite Energy. [19/11/14]
 

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