China Oilfield Services Limited (COSL or the Group), an integrated oilfield services provider in offshore China, announced Tuesday that it recently entered into a long-term cooperation contract for COSL4, a 2,000 HP (horsepower) module rig, with Petroleos Mexicanos (Pemex) for operation period of over 1,700 days at higher contract day rates.

COSL has had a six-year-long cooperation with Pemex. The Group gained recognition of its clients with its professional management and safe, efficient and premium services, and earned a high reputation. Recently, Mexico passed an energy reform bill, which created favorable conditions for the Group’s further expansion in Gulf of Mexico.

At the moment, COSL operates and manages 4 module rigs and 3 high-end jackups there. Moreover, there will be another 3,000 HP module rig earmarked for operation in the area once completed construction.