COSL targets two next-gen semisubs to reshape deepwater drilling

China Oilfield Services Limited (COSL) has taken a decisive step toward reshaping deepwater drilling with the approval of a feasibility study for two next-generation semisubmersible rigs. The move, endorsed by the company’s board and audit committee, underscores COSL’s ambition to lead in offshore energy exploration as global demand for deepwater projects grows. Semisubmersible rigs are critical for deepwater operations, offering stability and versatility in harsh marine environments. Unlike jackup rigs, which are limited to shallower waters, semisubs can operate in depths exceeding 3,000 metres, making them indispensable for frontier oil…

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