Company Overview

COSL Drilling Europe is one of the most efficient drilling companies of the North Sea. The company was established in 2005, has its head office located in Stavanger, Norway, and is owned by China Oilfield Services Limited. COSL Drilling Europe operates four modern drilling units and two accommodation units.

The business units containing the semi submersibles (Offshore Rig Services AS) was registered in 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 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 units by Norsk Hydro Produksjon AS on behalf of the license partners of the Troll Production License for 8 years each plus 8 x 1 year options. 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. The company changed name to COSL Drilling Europe AS.

After the take-over, COSL Drilling Europe has taken delivery of the four semi-submersible drilling units which were constructed in China and the two accommodation units - COSLRival and COSLRigmar have been operated by COSL from respectively 2010 and 2011.

The four semi submersible drilling rigs were delivered from the yard respectively November 2010 (COSLPioneer), November 2011 (COSLInnovator), May 2012 (COSLPromoter) and November 2014 (COSLProspector). The COSLPioneer performed drilling operations for Statoil from August 2011 until October 2014. COSLInnovator performed drilling and completions operations on the Troll field for Statoil from January 2013 until December 2015. COSL Promoter commenced drilling operations for Statoil in April 2013 on a 8x8 years contract.

All drilling units are of equal design and have proven strong and consistent performance deliveries.

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