History

COSL Drilling Europe AS has a short and eventful history.

The business units containing the semi submersibles (Offshore Rig Services AS) was registered May 2005. The vision was to build and operate fit for purpose semi submersible drilling units for drilling in mid water down to 750 meter. In September 2005 Offshore Rig Services awarded the contract for drilling equipment and systems/ drilling package to National Oilwell Varco. In November 2005 Offshore Rig Services awarded the construction contract to Yantai Raffles Shipyard, China. Major subcontractors are Siemens, Wärtsilä, Kongsberg Maritime, Global Maritime and DnV (Det norske veritas).

The first steel cut for the first rig COSLPioneer was celebrated with a ceremony at the yard in June, 2006. August 2006 Offshore Rig Services changed company name to OffRig Drilling ASA.

In February 2007 Awilco Offshore ASA acquired 100% of the shares in OffRig Drilling ASA and the company changed name to Awilco Offshore Semi AS. In April 2007 Awilco Offshore Semi AS was awarded two long term drilling contracts for two semi submersible drilling rigs by Norsk Hydro Produksjon AS on behalf of the license partners for the Troll Production License for 5 years, later extended to 8 years each plus 8 x 1 year options. In June 2007 Awilco Offshore signed contract for the fourth drilling package with National Oilwell Norway AS.

In July 2008 China Oilfield Services Limited offered to purchase all shares in Awilco Offshore ASA The purchase was effective from close of trading on Oslo Stock Exchange on 15 October 2008 and then Awilco Offshore ASA was de-listed from the Oslo Stock Exchange.