Profile: China Oilfield Services Ltd (CHOLY.PK)
15 Feb 2018
China Oilfield Services Limited (COSL), incorporated on December 25, 2001, is an integrated oilfield services provider. The Company's services cover each phase of offshore oil and gas exploration, development and production. The Company four business segments are drilling services, well services, marine support services, and geophysical and surveying services. The drilling services segment is engaged in the provision of oilfield drilling services. The well services segment is engaged in the provision of logging and downhole services, such as drilling fluids, directional drilling, cementing and well completion, and the sale of well chemical materials and well workovers. The marine support services segment is engaged in the transportation of materials, supplies and personnel to offshore facilities, moving and positioning drilling structures, the transportation of crude oil and refined products. The geophysical and surveying services segment is engaged in the provision of offshore seismic data collection, marine surveying and data processing services.
COSL not only provides services of single operation for the customers, but also offers integrated project management services. COSL's business activities are conducted not only in offshore China, but also in South East Asia, Middle East, Europe, Oceania, North America, South America and Africa. Its subsidiaries include COSL Chemicals (Tianjin), Ltd., COSL Holding AS, PT. COSL INDO, COSL HongKong Ltd., COSL (Australia) Pty Ltd. and COSL Mexico S.A.de C.V.
Drilling Services Segment
The Company's Drilling Services segment mainly provides services, such as drilling, module rigs, land drilling rigs and drilling rigs management. The Company has over 15 drilling rigs operating in the China Sea, approximately 10 rigs operating overseas, such as in Norway (North Sea), Mexico and Indonesia, over 15 are standby and approximately four are being maintained in the shipyard.
Well Services Segment
The Company is a provider of China offshore well services together with the provision of onshore well services. The Company's clients for well services include oil and gas companies in China (such as CnOOC limited and Petrochina) and international oil and gas companies. It provides professional well services, including logging, drilling and completion fluids, directional drilling, cementing, well completion, well workover and stimulation, among others. It applies drilling and completion fluids, and cementing service to deepwater, ultra-deep water, high temperature and high pressure (HTHP), and high sulfur content operation.
Marine Support Services Segment
The Company owns and operates offshore utility fleet in China. The Company owns and manages over 130 utility vessels and oil tankers, including anchor handling tug supply (AHTS) vessels, platform supply vessels, standby vessels, workover support barges and crude oil tankers (of which over 85 selfowned utility vessels and approximately three oil tankers). It provides support and services for offshore oil and gas exploration, development, construction and oil/gas field production. Its businesses include anchor handling, towing of drilling rigs/engineering barges, oil lifting, offshore transportation of crude oil and cargo, standby, ice-breaking, fire fighting, rescue, oil spill assisting, workover support and other marine support services. The total transportation volume of oil tankers of the Company amounted to approximately 1,725,000 tons.
Geophysical and Surveying Segment
The Company is a supplier for China offshore geophysical and surveying services. The Company owns over six towing streamer seismic vessels, over one undersea cable team and approximately five integrated marine surveying vessels. Clients are provided with services, including integrated services of wide azimuth, broadband, high density seismic collection, processing and interpretation by undersea cable, and also integrated offshore surveying services, offshore pipeline inspection and underwater light structure installation services.
China Oilfield Services Ltd
No. 201 Haiyoudajie
Yanjiao Economic & Developme
BEIJING BEJ 100027