China Oilfield Services Ltd.: Always Do Better

China Oilfield Services Ltd. (COSL) leads the world in providing integrated oilfield services outside the Chinese market. COSL’s integrated services include oil explorations, development and production. The company has four core businesses, namely geophysical services, well services, drilling services and marine support.

The company’s H shares are traded publicly on the Main Board of the Stock Exchange of Hong Kong. In the US, COSL shares are traded as Level 1 unlisted American Depositary Receipts. The company’s A shares are traded on the Shanghai Stock Exchange.

Overseas, COSL’s revenues have a steady growth rate of 133% per year. Annual net profit growth rate is reported at 22.7%.  Fifteen percent of the company’s capital expenditures are spent on explorations, 35% to development and the remaining 50% to production. Greater demands are constantly coming in from the markets in the Middle East, West Africa and Indonesia.

COSL’s fleet of offshore oilfield facilities outside China is one of the largest in the world. In China, COSL operates 34 drilling rigs. Twenty seven of these rigs are jack up drilling rigs, 2 semi-submersible drilling rigs, 4 module rigs, 2 accommodation rigs and 8 land drilling rigs. Outside China, COSL has 75 working vessels, 5 chemical carriers, 3 oil tankers, 5 surveying vessels, 8 seismic vessels, and other modern-day equipment and facilities for drilling.

COSL remains as the biggest listed offshore oil services company in China. It is preferred because it offers integrated turnkey services and packages. Aside from China, COSL is conducting drilling in North America, South America, Africa, Europe, the Middle East, South East Asia and Australia. All COSL workers are committed to providing the best services while maintaining the highest standard of safety, health and environment.

COSL’s tagline says, “Always do better”. The endeavors at COSL are always win-win for all stakeholders. It is heading towards becoming one of the top oilfield services providers in the world.