China Oilfield Service Ltd (COSL) has secured a contract to deliver comprehensive onshore oilfield services to an undisclosed major oil company in Mexico.
Although the contractor did not disclose extensive details about its win, it did confirm that the agreement is valued at 900 million yuan ($123 million).
COSL highlighted that the deal will be executed through its Mexican subsidiary, signifying a strategic shift for the Chinese company.
This shift involves transitioning from solely providing drilling services to offering advanced technology solutions to its clients.
This move aims to facilitate a transformation from primarily focusing on its drilling business to giving equal attention to equipment and technology in Mexico.
Currently, COSL owns and operates five modular rigs, each capable of drilling to a maximum depth of 9000 metres, specifically serving state-owned Pemex in the Gulf of Mexico.(Copyright)
