COSL Places Newbuild Order for 15 Offshore Vessels

On Wednesday, China Oilfield Services Limited (COSL) signed newbuild agreements for the construction of 15 vessels at five different Chinese shipyards.

The vessels to be built are as follows:

(1) Output enhancement vessel

(4) 6,000HP platform supply vessels

(2) 9,000HP PSVs

(2) 8,000HP anchor handling tug supply vessels (AHTS)

(4) 12,000HP AHTS vessels

(2) 15,000HP AHTS vessels

Deliveries are expected between January and August 2015.

COSL currently owns a fleet of 72 vessels plus 3 oil tankers, 5 chemical tankers, 7 seismic vessels, and 7 surveying vessels.

“Commissioning of construction of these vessels represents a major inroad by COSL to implement its “structural adjustment, deepwater and high-end” strategies for large-scale equipment,” comments COSL in a statement on their website.

In April, COSL contracted Shanghai Shipyard Co. Ltd. to build a large-scale dual source, 12-Streamer 3D-Seismic Vessel, HYSY721.  Upon delivery in 2H 2014, this vessel will be targeted to provide deepwater services in China South Sea, as well as for the global geophysical market.

Within COSL’s drilling department, the company owns a fleet of 35 drilling rigs including 27 jack-ups and 8 semi-submersibles, plus 2 Accommodation Rigs and 4 Module Rigs.