Greater ChinaOffshore

COSL stacks rig at Norwegian yard

Shanghai: China Oilfield Services Limited (COSL)’s Norwegian subsidiary COSL Drilling Europe has signed an agreement with Halvorsen Offshore to stack accommodation rig COSL Rigmar at Norwegian yard Kvina Verft, due to depressed market conditions.

COSL Rigmar was chartered to US oil company Hess for operations at South Arne oilfield, and Hess has not taken the option to extend the contract for another four months.

COSL Drilling Europe currently owns and operates three drilling units and two accommodation units.

Norwegian oil company Statoil suspended the charter contract for COSL Pioneer in the fourth quarter of 2014.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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