Home / Business / Energy Tools: Save | Print | E-mail | Most Read
Chinese company wins Libya oil rig deal
Adjust font size:

China Oilfield Services Ltd, a unit of the nation's third-largest oil producer, won a contract to supply four drilling rigs to Libya for about US$100 million.

 

China Oilfield will deliver two 7,000-meter and two 5,000-meter drilling rigs over three years starting in March, the Beijing-based company said on its Website today.

 

The oil and gas services company, whose main customer is CNOOC Ltd, aims to expand both at home and abroad to benefit from increased exploration spending after oil prices surged.

 

"This is the company's first overseas onshore drilling contract," Yuan Guangyu, vice chairman of China Oilfield, said. "We see Libya as the starting point to expand our broad range of oil field services to overseas markets such as the Middle East and north Africa."

 

China Oilfield shares rose 6.7 percent to HK$17.92 at the Hong Kong stock exchange's close at 12:30 pm.

 

(Shanghai Daily December 25, 2007)

 

Tools: Save | Print | E-mail | Most Read

Comment
Username Password Anonymous
China Archives
Related >>
- Oil Company Seeks Mainland Listing for Acquisitions
- China Oilfield Services shares double on debut
Most Viewed >>
- Gold futures jumps to daily limit upon debut
- Chinese economy in 2007
- Survey: B2B transaction volume up 25.5% in 2007
- Policy bank eyes rail project stake
- China Eastern not to ally with Air China

Nov. 1-2 Tianjin World Shipping (China) Summit
Nov. 7-9 Guangzhou Recycling Metals International Forum
Nov. 27-28 Beijing China-EU Summit
Dec. 12-13 Beijing China-US Strategic Economic Dialogue

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?