COSL charters ‘Excellence I’ jack-up
China Oilfield Services Limited announced that it has chartered a 400-feet jack-up rig, “Excellence I”, from ICBC Financial Leasing Co., Ltd. The naming ceremony for the rig was hosted earlier yesterday.
The “Excellence I” rig measures 66.71 metres in length and is 67.06 metres in width. It is designed to operate at water depths of 400 feet and is capable of performing drilling operations at depths of up to 35,000 feet.
It has been scheduled to start drilling operations in China waters by July 2014.
The “Excellence I” is the third jack-up rig COSL chartered year-to-date, as part of the efforts to meet rapidly growing domestic demand through deployment of external resources.
Rigs that were chartered previously, “HYSY932” and “Gulf Driller I”, have begun operation in offshore China market with signing of the operation contracts on April 18 and May 13 respectively.
Press Release, June 27, 2014