COSL renewed its long-term cooperation contracts
China Oilfield Services Limited , announced that it recently renewed its long-term cooperation contracts of module rigs (COSL1 and COSL2) with Petróleos Mexicanos (PEMEX) for over-1,700-day operation period, which contract date rates are up to certain rise, the company said in its press release.
These two module rigs have been on several cooperation contracts with PEMEX for six years in the Gulf of Mexico and gained recognition of clients by their operational capacity. At present, module rig COSL1, which has successfully passed the examination by the client and the local government, is formally extended to the new contract. After the refurbishment and capital improvement, module rig COSL2 will be about to comply with the new contract. Now the Group operates and manages 4 module rigs and 2 jack-up drilling rigs in the Gulf of Mexico, the important overseas market to the Group. Moreover, a 3000HP module rig and a jack-up drilling rig will be operated there once constructed.