China Oilfield Services : COSL’s Self-owned Brand Well Completion Tools to Achieve New Breakthrough

China Oilfield Services Limited ("COSL" or the "Company") recently successfully finished three well-times of horizontal open hole completion operations in Bohai Oilfield, achieving a new breakthrough as this is the first time that the Company used the full set of self-designed well completion tools for a single well.

There are more than 300 completion wells in Bohai field each year. Upper Completion tool & Open Hole Gravel Pack Technique are both widely applied in well completion operations of offshore oilfields. Previously, operations of this kind had been highly dependent on the full set of well completion tools provided by overseas suppliers that costed in excess of RMB100 million.

In order to enhance COSL's research standard and core competence, to achieve technique driven, the Company has conducted researches on "Critical Tools for Upper Completion" and "Open Hole Gravel Pack Tools". The Company has achieved groundbreaking results on these research areas and its technology advancement. These technologies have broad application prospects, and the applications also accelerate Company's research pace of localization of well completion tools and significantly reduce the costs of well completion and oilfield development for the oil customers.