New service contract signed for COSL Rival

China Oilfield Services Limited says the Group s wholly owned subsidiary COSL Drilling Europe AS ( CDE ) has recently signed a new service contract for its accommodation rig COSL Rival. The contract will be effective from August 2011 for a fixed tenure of 14 months with an option to extend for an addition period of one to six months. COSL Rival is currently operating in Norwegian waters in the North Sea. Upon completion of the current service contract in August, COSL Rival will set sail directly to start the new service contract in English waters in the North Sea.

COSL Rival is a semi-submersible accommodation rig that provides living support for up to 358 crew members.