Fossil Energy – Drilling
China Oilfield Services (COSL) has made a major breakthrough in overseas markets.
The Company has signed several long-term drilling rig service contracts with a first-class international oil company in the Middle East, with a total contract amount of approx. $1.92 billion.
This indicates a new stage of deepening cooperation between the Company and international oil companies in various fields of oilfield exploration and development, and also indicates that the international operation management capacity and service quality of the Company have been fully recognized by international first-class oil companies.
After the implementation of the project, overseas business service of the Company in the Middle East will form a new market pattern of ‘all-round integration into the Arabian Gulf, all-round community formation and all-round promotion of high-quality development’.
In this cooperation, the Company will fully activate the large-scale operation capability of its largest offshore drilling service fleet in the world, and upgrade and speed up to ensure the implementation of oilfield exploration and development needs of key customers.
Guided by the ‘Five Development Strategies’, the Company has continuously promoted the modernization of its management system and management capability, continuously accelerated the international business layout, actively innovated the cooperation modes and mechanisms with international oil companies, created international practical cooperation examples of win-win cooperation and common development, and built closer interconnection partnerships, laying a solid foundation for building a international first-class energy service company with Chinese characteristics, and rewarding investors with practical actions and outstanding achievements.