COSL confirms long term charter for Gulf Driller I rig

China Oilfield Services Limited has confirmed it entered into a charter contract with ICBC Financial Leasing Co. for a new 300-feet jack-up rig – Gulf Driller I – for a period of six years.

Gulf Driller I is of the same type as HYSY932, which COSL chartered recently as well. It is designed to operate at water depths of 300 feet and is capable of drilling into depths of up to 30,000 feet.

“The chartering of Gulf Driller I demonstrates COSL’s efforts in tapping market opportunities and enhancing its overall competitiveness,” COSL said in a press release.

The rig, designed by Friede & Goldman, and built by CIMC Raffles in China, is expected to start operation at Bohai Bay in the third quarter of 2014 after delivery.