COSL Takes Delivery of New Semisub
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.
Cnooc - $29b S China Sea Exploration
According to a Nov. 24 Bloomberg report, Cnooc Ltd. and its partners may spend about $29b to develop fuel deposits in the South China Sea in the nation's biggest push to tap reserves off the coast. The investments between next year and 2020 include an estimated $2.2b by parent China National Offshore Oil Corp. to build deepwater drilling equipment. (Source: Bloomberg)
Deepwater Prospects Ripe
It appears that the long-held promise of deepwater offshore discovery and recovery is well-positioned to pay off, particularly in the face of $30+ barrels of oil. As technology has increasingly allowed oil companies and offshore drilling firms to more accurately find and evaluate potential drilling hot spots, there has been a fervor for the development of deepwater drilling equipment and design of offshore supply vessels to support the operation. The booming global deepwater oil industry is on course to outpace supply of offshore development hardware in the next two years, according to an analysts' report, as reported in the October 30 edition of Maritime Week, sister-publication to Maritime Reporter & Engineering News.
CNOOC Signs $50m Deal with Aker
China National Offshore Oil Corp (CNOOC) yesterday signed a $50 million contract with Norwegian company Aker Kvaerner ASA for deepwater drilling equipment supplies. The Norwegian company earlier won a contract valued at $128 million from CNOOC. The contract includes the delivery of an ultra deepwater drilling rig. The company will also focus its overseas expansion on ventures in Western Africa, the Middle East, Asia Pacific and Central Asia, he said. China will finish its first deepwater drilling rig with a maximum working depth of 3 km by 2011. The maximum drilling depth will reach 12 km, which means it can operate in deepwater regions in the South China Sea, Southeast Asia, Gulf of Mexico and West Africa.
