China Oilfield Profits Soar After Awilco Buy Pushes Up Dayrates

摘要

China Oilfield Services Ltd. (COSL) saw net profits soar 39% in 2008 to 3.1 billion yuan ($453 million). Overall revenues at the firm, the drilling subsidiary of China National Offshore Oil Corp. (CNOOC), rose 35% year-on-year to 12.14 billion yuan. Drilling revenues jumped 51% to 5.9 billion yuan, while the well services unit saw earnings increase 20% to 2.73 billion yuan. The geophysical and marine support divisions raked in a combined 3.49 billion yuan, up 23%.