China Oilfield Services Limited (“COSL” or the “Company”) today released its unaudited financial report for the third quarter of 2025.
In 2025, the uncertainties and volatilities of the energy service market increased significantly and the pressure from the fluctuated downward of the average of the oil prices intensified. The Company has always focused on the demand for reserve growth and production enhancement, continuously provided high-quality equipment and established a technology support system for high-value exploration and high-level production enhancement, refined the management and control methods covering the entire process and all aspects, effectively enhanced risk resistance capacity of the Company, and promoted the steady growth of operation results. In the first three quarters of 2025, the Company made revenue of RMB34.85 billion, a 3.5% increase against the same period last year. Net profit was RMB3.39 billion, 28.6% more year-on-year.
For drilling segment, the Company continued to deepen lean management and optimized resource allocation both domestic and international markets resulting in a year-on-year increase in rig occupancy rates and significant segmental revenue growth. The technology segment had deepened the integration and development of the industrial chain and innovation chain, and effectively promoted the further extension of the technology system towards both ends of the demand and application，achieving a year-on-year growth of the operation volume of its main business lines. As for the marine support segment, it continued to consolidate its leadership in the domestic market, with total vessel operating days risen year-on-year. And, the geophysical acquisition and surveying segment, which focused on high-return business and adjusted the layout of certain production capacity, reported year-on-year growth in both revenue and profit.
The Company will remain committed to a customer-centric approach and value creation orientation. By balancing development and security, push for overall industrial upgrade, strengthen the quality and efficiency of international operations, plus improve governance capabilities and standards, so as to keep enhancing the Company’s core functions and competitiveness, and take its production and operations to new heights.
