China Oilfield Services signs long-termcontracts with Middle East oil companies for $14 billion

   On Oct. 23, China Oilfield Services Co., Ltd. announced that the companyhas recently made a major breakthrough in the overseas market. The company hassigned a number of long-term contracts for rig services with leadinginternational oil companies in the Middle East, with a total contract value ofapproximately RMB 14 billion.

   According to the announcement, this marks a new stage in the deepeningcooperation between CNOOC and international oil companies in various fields ofoil and gas field exploration and development, as well as a comprehensiverecognition of CNOOC's international operation and management capabilities andservice quality by top international oil companies.

   According to the announcement, after the implementation of the project,CNOOC's overseas business services in the Middle East will form a new marketpattern of "integrating into the Arabian Gulf in all aspects, concluding acommunity in all aspects, and promoting high-quality development in allaspects". In this cooperation, CNOOC will fully activate the scaleoperation capability of its world's largest offshore drilling service fleet andspeed up the implementation of key customers' oil and gas field exploration anddevelopment needs.