China Oilfield Services Limited Adds New Vessel to its Marine Support Fleet

(April 16, 2003 Beijing) China Oilfield Services Limited ( COSL or the Company ; Stock code: 2883) announced that a newbuild marine support vessel was delivered on April 9, 2003. The new standby vessel, Binhai 267, was built by Wuchang Shipyard, and has approximately 6,500 brake horsepower. Its main function is to provide standby services to production fields, and it is equipped with ice-breaking, towing and fire fighting functions. Binhai 267 has already been deployed to a designated field.

The construction of Binhai 267 was part of agreements signed for the construction of three identical vessels in June 2002. One of the vessels, Binhai 266, has been in operation since January 2003. The other vessel, Binhai 268, is expected to be delivered in May 2003.

COSL s Executive Vice President, Mr. Yang Yexin, at the vessel delivery ceremony, remarked, The completion of another newbuild vessel further expands our marine support fleet size and should also stimulate our operating capacity.