Recently, the Company has made an important breakthrough in overseas markets. COSL Drilling Europe, a wholly-owned subsidiary of the Company, has signed several drilling rig service contracts with two international oil companies in Norway with fixed terms and containing an option with a term of up to five years. Among which, the total amount of contracts with fixed terms is approximately RMB4.7 billion.

Based on the characteristics of the regional market, the Company has intensively cultivated and continuously enhanced the energy efficiency and operating capabilities of drilling rigs in the North Sea, thereby providing customers with efficient, energy-saving and green drilling rigs and providing a solid guarantee for efficient drilling operation of customers. The signing of new contracts indicates that the Company’s low-emission drilling rigs which are safe, efficient and suitable for future operation needs have been fully recognized by important customers. The Company looks forward to expanding its partnership with customers through long-term strategic alliances, laying a solid foundation for further consolidating and expanding the North Sea market.