COSL Jack-up Drilling Rig COSL Strike Signed an overseas service contract

(18 June 2009 Hong Kong) China Oilfield Services Limited ( COSL or the Company ; HKSE stock code: 2883; SSE stock code: 601808), the leading integrated oilfield services provider in the offshore China market, says COSL has recently signed with the United Arab Emirates company Global Petro Tech FZCO (GPT) a service contract for the jack-up drilling rig COSL Strike. The contract term is three years plus an option of 9 months. The service area is the Gulf region. The contract will officially commence in August this year.

Signing of this contract will allow COSL to expand its business into other oilfield technology services in that region, using drilling services as a precursor. It creates a favorable precondition for COSL to tap into the oilfield services market segment in the Gulf region.