China Oilfield Services Limited : COSLGift Sets Sail to Southeast Asia to Start Operation

China Oilfield Services Limited ("COSL" or the "Group";), announced that COSLGift, the jack-up rig newly acquired by the Group, had completed construction, been delivered and has set sail to Southeast Asia to perform operations there.

COSLGift, acquired in August 2013, is a high-end jack-up rig of the same model as COSLHunter which was delivered in early December 2013. This is among one of world's mainstream jack-up rig models. COSLGift is capable of operating at water depths of 375 feet and perform drilling operations at depths of up to a maximum of 30,000 feet, with maximum persons count on board at 124 crew members and a variable load of 3,500 tonnes. It sets sail to Southeast Asia and is expected to start operation in mid-to-late January 2014, while its sister COSLHunter had been towed to Gulf of Mexico to perform operation in early December 2013.