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ConocoPhillips (COP) News

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June 16, 2009 - 01:40 AM PST

COSL inks rig service agreement with ConocoPhillips

BEIJING, Jun. 16, 2009 (Xinhua News Agency) -- China Oilfield Services Limited (COSL) has signed a lump-sum contract with ConocoPhillips (NYSE:COP) to provide drilling services for the latter's Penglai (PL) 19-3 platforms in Bohai Bay.

Six platforms are planned to come onstream in the PL19-3 oilfields, five of which are owned by ConocoPhillips.

Liu Jian, CEO of COSL, said that the contract will help the company expand its market share.

COSL (2883.HK) is a listed company of CNOOC Group, parent of CNOOC Ltd. (NYSE:CEO) (CEO.NYSE; 0883.HK).

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