Smooth Delivery of Two Jack-up Platforms

China Oilfield Services Limited COSL or the Company announces that two of the Company's newly built 200-feet jack-up platforms, COSL921 and COSL922, were successfully delivered at Huangdao Shipyard of Offshore Oil Engineering Co. Ltd. COOEC in Qingdao on 30 October 2010. A ceremony marking the successful delivery saw the attendance of Mr. Liu Jian, Deputy General Manager of China National Offshore Oil Corp. and Chairman of COSL; Ms. An Xuefen, Chairman of Supervisor Committee of COSL; Mr. Li Yong, CEO and President of COSL, Mr. Zhou Xuezhong, President of COOEC representing the builder; and representatives of American Bureau of Shipping ABS and China Classification Society CCS .

COSL921 and COSL922 are cantilever jack-up drilling platforms adopting L780 ModII designed by Friede and Goldman Marketing B.V. They are design to operate in depths of 200 feet, and temperature of -20 C or higher and maximum drilling depths of up to 6,000 metres. The platforms are 57.2 metres long, 53.34 metres wide and 7.62 metres high and can support up to 100 crews. Each of them are equipped with an helicopter apron that can accommodate S-61 choppers. They are compliant with ABS and CCS standards. They are designated to be operating in BohaiBay waters but also capable of operating in other waters.

Mr. Li Yong, CEO and President of COSL, said in the delivery ceremony: The successful delivery of these two 200-feet jack-up drilling platforms will expand the range of water depths the Company s drilling rigs can operate in, strengthening the capability of COSL s equipment portfolio and the Company s competitive edges. I hope everyone can continue to cooperate with one another seamlessly to contribute to the forthcoming delivery of COSL923 and COSL924 which are still under construction.

These two 200-feet jack up platforms, upon successful delivery, will be towed to operate in BohaiBay.