COSL rig scores Papua New Guinea gig with Twinza Oil

  • Business & Finance

China Oilfield Services Limited (COSL), a Chinese offshore services provider, has won a contract to perform drilling operations in Papua New Guinea for the Australian oil & gas company, Twinza Oil.

COSL said on Wednesday that the contract had already been signed by the two parties.

According to the company, this is the first time COSL and Twinza Oil have cooperated on a project.

For the duration of the project, COSL will use the COSLSeeker jack-up rig, which is scheduled to arrive at Papua New Guinea in late August after the completion of its drilling operation in Indonesia.

COSL was referring to operations on the Conrad Petroleum-operated Duyung production sharing contract located offshore Indonesia where the jack-up drilled the Mako South-1 appraisal well. The Natuna Sea well was spud in mid-June and reached total depth of 1,707 feet about ten days later. Well testing operations were completed at the beginning of July and that is when the rig started demobilizing back to its home base in Labuan, Malaysia.

The rig is of Baker Marine Pacific Class 375 design, built by PPL Shipyard in Singapore and delivered in November 2008.

Commenting on the contract award in the PNG region, COSL said: “The Papua New Guinea market, in which the company’s geophysical vessel HYSY 719 has good operation records, possesses a promising future. The company is confident that it will obtain more operation opportunities in the region.”

Offshore Energy Today Staff

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