500th Day of Safe Operation of Jack-up Rig COSL935

(18 October, 2006) China Oilfield Services Limited ( COSL or the Company , stock code: 2883HK) announced that its jack-up rig COSL935 has accomplished its second 500^th Day of Safe Operation .

COSL935 is the Company s leased out jack-up rig. Since it was leased out in 2003, the Company overcame difficulties in equipment operations and personnel allocation, and ensured the smooth operation of the Company. In managing and operating COSL935, the Company strictly followed the requirements of the Company s QHSE system, continuously strengthening the safety training of employees. The Company s ideas of 5 wants, 5 don ts and the 8 safety consciousness were fully implemented into its operations, and raising the safety consciousness of employees has become a long-term commitment, bringing outstanding safety performance for the Company.

COSL935 currentlycontinues to provide drilling services to the Kerr-McGee Corporation.

The 500^th Day of Safe Operation of COSL935 is another demonstration of the Company s implementation of the QHSE system. Mr. Yuan Guangyu, CEO and President of the Company, said, Safety is a very important issue which directly affects the Company s operations, and QHSE is the key gem of the Company s reputable brand name. The Company will continue to rapidly develop its productions, increase its number of employees, and maintain high usage rate of the Company s large-scale facilities, at the same time further enhancing its safety management to ensure the smoothness in the Company s operations.