Profile: China Oilfield Services Ltd (CHOLY.PK)
6 Dec 2013
China Oilfield Services Limited (COSL) is a solution provider of integrated oilfield services in China. The Company's services cover each phase of oil and gas exploration, development and production. The Company provides drilling services, including rig, module rig and rig management services; oilfield technology services, including logging, drilling fluids, directional drilling, cementing and liftboat services; marine support and transportation services, including transportation services of materials, supplies and personnel, as well as geophysical services, including the services of seismic and construction survey. As of December 31, 2010, the Company operated and managed 29 drilling rigs (of which 25 are jack-up rigs and four are semi-submersibles), two platform supply vessels, four module rigs and six onshore rigs. The Company also possesses and manages 75 supply vessels, three oil tankers, five chemical carriers, eight seismic vessels and four surveying vessels.
The Company mainly engages in the provision of drilling services, well services, marine support and transportation services and geophysical services in offshore China. Activities outside the People’s Republic of China (PRC) are mainly conducted in Indonesia, Australia, Mexico, Myanmar, Norway, Vietnam, Saudi Arabia, Dubai, Libya and Tunisia.
Drilling Services Segment
The Company mainly provide services such as drilling, module rigs, land drilling rigs and drilling rigs management. As of December 31, 2009, the Company operated and managed a total of 27 drilling rigs (of which 23 are jack-up drilling rigs (one leased), and four are semi-submersible drilling rigs (one managed)), two accommodation rigs, four module rigs and six land drilling rigs. As of December 31, 2009, the Company had 12 drilling vessels operating in Bohai of China, 5 in South China Sea, three in overseas countries, such as Saudi Arabia and Australia, while four vessels were being mobilized to their new assignments destinations. It also provided management services for one semisubmersible drilling rig for overseas customers. It also had three 2,500 feet semi-submersible drilling rigs and four 200 feet jack-up drilling rigs under construction.
Well Services Segment
The Company’s well services segment provides China offshore
well services together with the provision of on-shore well services. Its clients for well services include large scale oil and gas companies in China, such as CNOOC and Petrochina, and oil and gas multinationals, such as BP, Shell, ConocoPhillips and Chevron. The Company’s Enhanced Resistivity Micro- Imager (ERMI) logging equipment succeeded in the experimental well testing for electrical imaging tool in Liaohe oilfield, which filled up the gap of the logging technology in high-end electronic imaging.
Marine Support and Transportation Services Segment
During the year ended December 31, 2009, the Company owned an aggregate of 80 utility vessels of various types, three oil tankers, 5 chemical carriers, which were mainly operated in offshore China. The offshore utility vessels provide services for offshore oil and natural gas fields exploration, development and production, and are responsible for supplies, cargoes and crew transportation and standby services in the sea, and provide moving and positioning for drilling platforms, towing and anchoring services for offshore vessels. The oil tankers are used for transporting crude oil and refined oil and gas products. The chemical carriers are used for carrying chemical products, such as methanol.
Geophysical Services Segment
The Company’s geophysical services segment provides services in other offshore regions, including South and North America, the Middle East, Africa and Europe. Its geophysical services are divided into two categories: seismic services and surveying services. As of December 31, 2009, the Company owned eight seismic vessels and four integrated marine surveying vessels.
China Oilfield Services Ltd
(Room 1110), No. 10, 11F, Tower
Kaiheng Mansion,no 2 Chaoyangmen
BEIJING BEJ 100010