COSL Drilling Europe
COSL Drilling Europe is a subsidiary to China Oilfield Services Limited, Beijing, China.
COSL Drilling Europe AS (CDE) is located at Forus, Norway, and was established in May 2005 under the name Offshore Rig Services. The company became a wholly owned subsidiary of Awilco Offshore ASA in January 2007. In September 2008 China Oilfield Services Limited (COSL) took over all the shares in the company.
CDE owns and operates two accommodation units, COSLRigmar and COSLRival, both operating in Europe, one in UK and one on the Norwegian continental shelf (NCS). NCS has one of the world’s strictest regulatory regime when it comes to technical requirements for the units and corresponding requirements for the onshore organization.
Currently CDE has one semi submersible drilling rig under construction at CIMC Yantai Raffles Shipyard in China. This drilling unit will be delivered from the yard in Q4 2014, and ready for operations in Q2 2015. The COSLPioneer started its operations for Statoil on NCS in August 2011. This new build state of the art semi-submersible drilling unit has proved to be a very efficient and safe drilling unit delivering first class work for its client.
COSL Drilling Europe has a mission to build and operate fit for purpose semi submersible drilling units and accommodation units and provide world class offshore drilling operations anywhere in the world. We will provide exploration, exploitation and increased oil recovery operations in offshore regions anywhere our clients may require, and be the preferred supplier of these services.
COSLInnovator and COSLPromoter both have firm contracts with Statoil for the Troll Production Licence. The fixed contract period for each of these rigs is 8 years plus 8 x 1 year options. Start-up date for these contracts were in 2012 and 2013 respectively.
Our target is to deliver world class performance to our customers and continuously aiming at maximising shareholders value, improving our business processes, and maintaining a high HSE&Q standard.