Greater ChinaMiddle EastOffshore

COSL lands $1.9bn in Middle East drilling contracts

Chinese driller China Oilfield Services Limited (COSL) has signed several long-term drilling rig service contracts with an undisclosed “first-class international oil company” in the Middle East, worth around $1.92bn.

According to COSL, the latest deals indicate a new stage of deepening cooperation between the company and international oil companies in various fields of oilfield exploration and development.

“After the implementation of the project, the overseas business service of the company in the Middle East will form a new market pattern of all-round integration into the Arabian Gulf,” COSL said in a statement.

No further details have been disclosed, but Saudi Aramco has been widely tipped to be behind the deal. 

COSL operates and manages 59 drilling rigs, of which 44 jackups and 15 semisubs. It also has 10 accommodation rigs and five modular rigs.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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