China: COSL Takes Delivery of Two New Jackup Rigs

China Oilfield Services Limited （“COSL”or the “Group”）announced the Group’s two 200-feet jack-up drilling platforms COSL923 and COSL924 were successfully delivered at Huangdao Shipyard of China Offshore Oil Engineering Co., Ltd. “COOEC” in Qingdao on 22 May 2011.

Mr. Liu Jian, Vice President of China National Offshore Oil Corporation and Chairman of COSL; Mr. Li Yong, CEO and President of COSL; Mr. Cao Shujie, Vice President of COSL; and representatives from the ship builder COOEC, American Bureau of Shipping and China Classification Society attended the delivery ceremony.

COSL923 and COSL924 are cantilever jack-up drilling platforms, same as COSL 921 and COSL922 delivered in October 2011, adopting L780 ModII designed by Friede and Goldman Marketing B.V. They are designed to operate in depths of 200 feet, and maximum drilling depths of up to 6,000 metres. The platforms are 57.2 metres long, 53.34 metres wide and 7.62 metres high and can support up to 100 crews. Each of them are equipped with an helicopter apron that can accommodate S-61 choppers. They are dually compliant with ABS and CCS standards. They are designated to be operating in Bohai Bay waters but also capable of operating in other waters.

Mr. Li Yong, CEO and President of COSL, said：“The successful delivery of these two 200-feet jack-up drilling platforms will further strengthen the capability of COSL’s equipment portfolio and its operating capabilities. These two 200-feet jack up platforms will soon be towed to operate in Bohai Bay and help the Company continue to provide high quality, high efficiency services to clients and create better results.”

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Source: COSL, May 23, 2011;