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COSL's Overseas Subsidiary Wins Long-term Business Contract
Time:2024-01-23 Size:[ Large Medium Small ]

China Oilfield Services Limited (hereinafter referred to as "COSL" or the "Company") has recently won a long-term drilling services contract in the overseas market. PT COSL Indo, a wholly-owned subsidiary of the Company, has entered into a three-year fixed term plus two-year optional term business contract for jack-up drilling rigs with the client in Indonesia, with a total contract amount of approximately USD210 million for the five-year period. 

The Company has been highly recognized by its clients in the Indonesian market for drilling services by virtue of its advanced equipment management, efficient operational performance and excellent customer service. Since 2020, the Company has won the biddings for a number of major drilling rigs services contracts, making outstanding contributions to the stable market operation in the Indonesia region. This contract is the largest business contract in the market of the Indonesia region in recent years, and the successful entering into of the contract has secured our market share for drilling services in the market of this region, and laid a solid foundation for further expanding the Company’s presence in Indonesian market.

The Company will continue to implement the "internationalization" and "regional development" strategies, give full play to its advantages of the whole industry chain services, increase the development of its overseas markets, and focus on win-win cooperation and seek common development. This will achieve greater development of the Company's overseas operations, help the Company to sustain high-quality development, and reward our investors with concrete actions and excellent results.