China Oilfield Services Limited News

Esgian reports various drilling contractors disclosing details of discussions with Saudi Aramco regarding jackup contract suspensions in its Week 14 Rig Analytics Market Roundup. These contractors include Shelf Drilling, ADES, Borr Drilling, Arabian Drilling, COSL, and ARO Drilling.Meanwhile, Transocean, Noble, and COSL rigs have firmed up new work in the US Gulf of Mexico, Suriname, and the North Sea, respectively.Report overview:ContractsShelf Drilling has received a notice of suspension of operations on four jackup rigs from a customer in the Middle East.

Shanghai-based SWS shipyard has delivered two newbuild platform supply vessels to Sinoocean.The vessels the 'Guo Hai Min Xing' and the 'Guo Hai Min Sheng' -  both of the ULSTEIN PX121 design - are operating for COSL – China Oilfield Services Limited, with whom they have a long-term charter.Two more vessels of the same design at SWS (Shanghai Waigaoqiao Shipbuilding Co., Ltd.), have completed their sea trial and will also be delivered to COSL shortly, according to schedule, Ulstein, the vessel designer, said Monday. The owner of all four vessels is Sinoocean. Image Credit: Ulstein

Norway’s Statoil ASA  has decided to end its contract with a drilling rig operated by China Oilfield Services Limited, or COSL, three months after a worker died when the rig was hit by a wave during a storm in the North Sea. “The conditions for terminating the contract signed with COSL Offshore Management AS have in our opinion been met, and we therefore choose to use our contractual right to terminate the contract,” says Geir Tungesvik, Statoil’s senior vice president for drilling and well. In addition Statoil has decided to stop drilling operation with the sister rig COSLPromoter when it is safe to discontinue well operations. This is done in order to enable COSL to implement the necessary actions in order to fulfil the requirements of the contract.

On July 22, COSCO (Dalian) Shipyard delivered a platform supply vessel (PSV), ¡°Hai Yang Shi You 660¡±, to China Oilfield Services Limited (COSL), the Chinese shipbuilder announced. The vessel measures 85.4 meters LOA, 20 meters in breadth, 8.6 meterd in depth and has a deck space of 1,000 square meters. It is designed to transport supplies and crew, as well as provide rescue and fire-fighting services for offshore platforms. The production design of the vessel was completed by COSCO (Dalian) Shipyard. COSCO Dalian has undertaken to build two PSVs for COSL. The other one is being readied for sea trials. COSCO Shipyards has secured orders for a total of four offshore supply vessels (OSVs) from COSL.

COSL Drilling Europe is reportedly being forced to make 229 rig staff redundant as a result of Statoil’s decision to cancel the charter for semi-submersible unit COSL Pioneer. Statoil announced the termination of contract since 8 October 2014, which is 13 months before the expiry date. Statoil explained that contract was canceled, as company has not managed to find alternative activity for the semi-submersible drilling rig. The rig was one of three contracted from COSL Drilling Europe, a subsidiary of China Oilfield Services Limited (COSL). The contract for the COSL Pioneer was set to expire in August 2016. “This is the heaviest day in our company’s relatively short history.

COSLProspector, the fourth deep-water semi-submersible drilling rig built by CIMC Raffles for China Oilfield Services Limited (COSL), has been delivered in Yantai, Shandong Province. It represents another milestone for China’s deep-water drilling rig going into the global mainstream market. The COSLProspector is a DP3 vessel with a length of 104.5 m, a width of 70.5 m, a height of 37.55 m, and an operating water depth of 1,500 m. It is able to drill 7,600m deep and has a designed operating temperature of minus 20 degrees Celsius.

China Oilfield Services Limited saw successful delivery of the deepwater semi-submersible drilling rig COSLProspector it invested in and commissioned to build in Yantai, Shandong today. This rig has adopted the latest marine engineering design concepts in the world and has mets the world’s most stringent regulations and requirements. It can perform operations in hectic environments. COSLProspector has adopted the world’s most advanced energy management and environment-friendly design concepts and is equipped with numerous advanced technologies including DP3 closed loop, smart inverters, escape slipways and automatic defrosting, etc.

MacGregor, part of Cargotec, informs it has won an order for two  subsea cranes from South Korean shipyard Hyundai Heavy Industries and another for one from China’s Wuchang Shipbuilding. The active heave-compensated cranes will have an SWL of 100-tonnes and 25-tonnes respectively. They will be fitted on board a new 160m heavy construction vessel (hull 2654) being built at the yard for global offshore specialist, Subsea 7. The MacGregor subsea cranes will support the vessel's year…

MacGregor has secured an order from Wuchang Shipbuilding Industry for a 100-metric-ton SWL active heave-compensated subsea crane. The MacGregor crane will be installed on the anchor handling tug supply (AHTS) vessel, currently under construction for the offshore specialist, China Oilfield Services Limited (COSL). Wuchang Shipbuilding Industry, a subsidiary of one of China's largest shipbuilders, China Shipbuilding Industry Corporation (CSIC), plans to deliver the Rolls-Royce UT788-design vessel in March 2015. Once operational, the vessel will perform offshore services in the South China Sea. It will also have the capability to carry out deepwater and ultra-deepwater work in other offshore areas such as Brazil, West Africa, the Gulf of Mexico and the North Sea.

Wison Offshore & Marine Ltd. (Wison), a subsidiary of the Wison Group, has announced  the award of a contract from China Oilfield Services Limited (COSL) to supply one modular drilling rig for use on a platform in the Mexican sector of the Gulf of Mexico operated by Petróleos Mexicanos (PEMEX). Under the contract, Wison will perform the project management, procurement, production engineering, fabrication, load out, offshore installation and commissioning support of one 3,000hp modular drilling rig that will be installed on the Tsimin‐C drilling and production platform in the Mexican Bay of Campeche. The drilling facility is based on…

China Oilfield Services Limited (COSL) has signed agreements with 5 different shipbuilders for the construction of 15 vessels of various types to serve China's offshore industry. The vessels, due for delivery between January and August 2015, include: one output enhancement vessel, four 6,000HP platform supply vessels (“PSVs”), two 9,000HP PSVs, two 8,000HP anchor handling tug supply vessels (“AHTS vessels”), four 12,000HP AHTS vessels and two 15,000HP AHTS vessels. COSL say that these orders represent a major step towards their goal of providing facilities in deepwater operations, in order to meet China's demand for offshore oil and gas exploration and development.

China Oilfield Services Limited (COSL) choose Havyard 832 design for renewal supply vessel fleet, & order Havyard designs for 4 new vessels. COSL has the largest fleet of oil rigs and offshore vessels in China owning 34 drill rigs, 2 accommodation rigs, 4 module rigs and 8 land-based drill rigs as well as 75 supply vessels, 8 seismic vessels and 5 standby vessels. Havyard won this international tender in tough competition and they were chosen following an in-depth technical and commercial evaluation process made by COSL.

China Offshore Fugro Geosolutions (Shenzhen) Co. Ltd. (COFG) orders two Ranger 2 underwater tracking systems from Sonardyne Asia. The contract, part of the pre-installation phase of the Liwan 3-1 gas field development, includes the supply of Sonardyne’s new pre-calibrated GyroUSBL transceiver, establishing COFG as the first company in the region to benefit from its operational cost-saving features. Discovered in 2006, Liwan 3-1 is located in the South China Sea, 350 kilometres south-east of Hong Kong in an average water depth of 1,300 metres.

CGGVeritas has conducted first BroadSeis Surveys offshore Shenzen in the South China Sea. The deepwater surveys of two areas offshore Shenzhen in the east of the South China Sea were awarded to CGGVeritas by Chinese seismic services company, COSL (China Oilfield Services Limited), on behalf of its parent company, the Chinese national oil company, CNOOC. Data processing is already underway in the CGGVeritas Singapore center and is expected to be delivered by the end of 2012. The…

China Oilfield Services Limited （COSL) has agreed a deal to implement the fleet management software AMOS  from SpecTec Asia Pacific East Ltd across three units of its fleet. The two parties have signed a contract which includes the supply of AMOS software suite, databases and associated consultancy services. AMOS is going to be installed onboard a 3000 meter semi-submersible drilling platform (COSL 981), delivered in 2011,  as well as onboard two jack-up drilling rigs (HYSY936 and HYSY942). COSL is the leading integrated oilfield services provider in the offshore China market. Its services cover each phase of offshore oil and gas exploration, development and production.

The board of directors of CNOOC Limited announced that Mr. Fu Chengyu, an Executive Director of the Company, will be re-designated as a Non-executive Director of the Company. Mr. Fu remains the Chairman of the Board. Mr. Li Fanrong, a Non-executive Director of the Company, will be re-designated as an Executive Director of the company. The re-designations of Mr. Fu and Mr. Li will become effective from 16 September 2010. Born in 1951, Mr. Fu received a B.S. degree in geology from the Northeast Petroleum Institute in China and a master degree in petroleum engineering from the University of Southern California in the United States. He has over 30 years of experience in the oil industry in the PRC. He previously worked in China’s Daqing, Liaohe and Huabei oil fields.

Siemens Marine Solutions has received an order from China Oilfield Services Limited (COSL) to equip two special deep-sea vessels with propulsion equipment and integrated automation and control systems. The new vessels – one will be used for deepwater seismic research and the other for engineering surveys – will enhance COSL’s working capabilities in waters of up to 3,000 meters in depth. The order is worth about $32.5m. Delivery of both vessels is scheduled for the middle of 2011. China Oilfield Services Limited is part of China National Offshore Oil Corporation (CNOOC), a provider of integrated oilfield services for the offshore market. Up to now, COSL’s focus was on exploration activities in coastal waters.

Atlantis Deepwater Orient Limited (ADOL) announced that a full scale trial of the Atlantis Artificial Seabed System was successfully completed on April 27, 2009. The well location is in the South China Sea on the Chinese Continental shelf. "The success of this trial will now set the stage for other interested parties to lease the technology from ADOL. We expect the technology will be very attractive to offshore drilling companies in markets worldwide," said Peter Georgiopoulos, Chairman of General Maritime Corporation (NYSE:GMR) , Genco Shipping and Trading, Ltd. (NYSE:GNK) , and Aegean Marine Petroleum (NYSE:ANW). Georgiopoulos is a major investor in ADOL…

Keppel Offshore & Marine Ltd (Keppel O&M) has secured contracts worth over $20.7 million through its overseas subsidiaries for the upgrade and repair of three semisubmersibles (semis). One of these contracts, secured in the Netherlands, is for the inspection and repair of a semi accommodation rig, COSLRIVAL (ex-Port Reval), from China Oilfield Services Limited. K&O plans to upgrade COSLRIVAL’s electrical switchboards and piping systems and overhaul its marine equipment and deck crane reinforcement.

China Oilfield Services Limited (COSL), the largest oilfield service provider in Asia, has issued corporate bonds valued at 1.5 billion yuan ahead of an expected listing on the mainland stock market, according to a report on Xinhua. It is the first time COSL, and its parent company, China National Offshore Oil Corporation (CNOOC), the country's largest offshore oil producer, has issued corporate bonds on the mainland market. The 15-year bonds have an interest rate of 4.48 percent and have been classified as "AAA", the highest rating, by the Dagong Global Credit Rating. They were issued four days before the central bank announced a rise in interest rates and took four days to sell out.