Pipeline Dubai reported that China Oilfield Services Limited has recently signed its newbuild jack-up drilling rig COSL Strike with the UAE based company Global Petro Tech FZCO.

The rig, which will be deployed in the Gulf region, will start operating in August 2009 under a contract term for 3 years plus an option of nine months.

The company said that the signing of the contract will allow COSL to expand its business into other oilfield technology services in that region, using drilling services as a precursor. It creates a favorable precondition for COSL to tap into the oilfield services market segment in the Gulf region.

(Sourced from pipelinedubai.com)