cosl reverse roadshow “cosl941” cosl reverse roadshow “cosl941” 30 may 2006 china oilfield...
TRANSCRIPT
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COSL Reverse Roadshow
“COSL941”
COSL Reverse Roadshow
“COSL941”
30 May 200630 May 2006CHINA OILFIELD SERVICES LIMITEDCHINA OILFIELD SERVICES LIMITED
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• “COSL941” – Its first locally built 400-foot jack-up rig in the PRC – officially delivered in Dalian on May 31, 2006
• The construction project was jointly implemented by COSL and the U.S.-based FGL Buyer LLC
• Major equipments, power station, and drilling machine engine facilities in “COSL941” are provided by National Oilwell Varco, Caterpillar, and Siemens, respectively
Introduction
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“COSL941”
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About “COSL941”
Market Overview
Conclusion
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The total investment cost of the “COSL941” is over USD135 million. It is the first jack-up rig in the world applying frequency variation engine technology for dril
ling machine, representing the realization of “Zero Discharge”. “COSL 941” bears equipment of advanced international standards, thus it is believed that
the performance of the jack-up rig will be highly enhanced.
Technology COSL941 PRC Platforms(Highest Current Configuration)
Operation depth 400 ft 300 ft
Drilling depth 30,000 ft 20,000 ft
Cantilever length 75ft×30 ft 60ft×24 ft
High-temperature and high-pressure drilling capacity
Equipped Not equipped
About “COSL941”
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About “COSL941”
Market Overview
Conclusion
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• Currently, there are 13 400-foot jack-up rigs operating around the world, 2 new vessels to be delivered in 2006 ( These being “COSL941” and “WilCraft” of Premium Drilling)
• As the “COSL941”’s new equipment needs to be worn in, its first contracted operation will be in the PRC
• Increment of 90% ~ 94% in day rate, compared with average rate of COSL’s jack-up rigs in 2005
Market Overview
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About “COSL941”
Market Overview
Conclusion
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• “COSL941” is the largest investment project since COSL’s listing, the excellent performance capabilities of “COSL941” enables it to easily adapt to drilling environments around the world, bringing new dynamics to the Company’s “International Strategy”
• Second jack-up in building&implementation stage, bringing world-leading drilling equipments to COSL in the near future, improving performance in terms of service and service areas, and becoming a top-notch energy services provider in the international market
COSL is committed to maximizing shareholder valueCOSL is committed to maximizing shareholder valueCOSL is committed to maximizing shareholder valueCOSL is committed to maximizing shareholder value
Conclusion
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Thank You Thank You
www.cosl.com.cn www.cosl.com.cn