Recently, China Oilfield Services Limited (COSL) announces that its wholly-owned subsidiaries entered into the rigs purchase and sale contracts with Dalian Shipbuilding Offshore Co., Ltd. , respectively, pursuant to which, they proposed to purchase four JU2000E jack-up drilling rigs at a total contract price of RMB3,251.6 million.
Four jack-up drilling rigs. Such drilling rigs are drilling devices used for offshore oil and gas survey and exploitation engineering, and are suitable for operations in the marine environment within 400 feet of water depth worldwide, with the maximum well drilling depth reaching 35,000 feet. The Target Assets of the Purchase shall meet the actual operating needs of the Company, enhance the market competitiveness, further improve the quality of large-scale equipment, and cover the gap of gradual transformation and exit of the aging drilling rigs.
