601808 On Other Exchanges
Hong Kong
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Company Description

Contact Info


9th Floor, Room 902

6 Dongzhimenwai Xiaojie

Dongcheng District

Beijing, 100027


Phone: 86 10 8452 1687

Fax: 86 10 8452 1325

China Oilfield Services Limited engages in the provision of offshore oilfield services, including drilling services, well services, marine support and transportation services, and geophysical services. The principal activities of the company’s subsidiaries comprise investment holding, sale of logging equipment, leasing of geophysical vessels, provision of drilling fluids services and provision of drilling and work over services. Segments The company’s four business segments are Drilling Services, Well Services, Marine support and Transportation services, and Geophysical Services. The company, as of December 31, 2008, it operated and managed 23 drilling rigs (of which 20 are jack-up drilling rigs (one leased, one managed) and 3 are semi-submersible drilling rigs), 2 accommodation rigs, 4 module rigs and 5 land drilling rigs. In addition, the company owns and operates the fleets in off shore China, including approximately 70 working vessels and 4 oil tankers, 5 chemical carriers, 8 seismic vessels, 4 surveying vessels, and an array of facilities and equipment for logging, drilling fluids, directional drilling, cementing and well work-over services, including FCT, FET, LWD and ERSC. The company also offers integrated package and turnkey services. Its business activities are conducted not only in off shore China, but also extended to different regions of the world including North and South America, the Middle East, Africa, Europe, South East Asia and Australia. Drilling Services segment The company is a supplier of China off shore drilling services. The company mainly provides services, such as drilling, module rigs, land drilling rigs and drilling management. As of December 31, 2008, it operated and managed a total of 23 drilling rigs (of which 20 are jack-up drilling rigs (one leased, one managed), and 3 are semi-submersible drilling rigs) and 2 accommodation rigs. As of December 31, 2008, the company’s drilling vessels, accommodation rigs and land drilling rigs operated in 8 countries and regions around the world. Well Services segment The company’s clients for well services include large scale oil and gas companies in China (such as CNOOC and Petrochina) and oil and gas multinationals (such as BP, Shell, ConocoPhillips, and Chevron). It provides professional well services to clients, including logging, drilling and completion fluids, directional drilling, cementing, well completion, well workover, and oilfield production optimization. The company’s proprietary owned logging system ELIS provides cable logging service in South East Asia. Its land open-hole cable logging, perforation, drilling fluids and cementing services have also entered Indonesia to provide services for clients. Marine Support and Transportation services segment The company engages in owning and operating offshore utility fleets in China and has 75 utility vessels, 4 oil tankers and 5 chemical carriers. The company possesses and operates t off shore utility transportation fleets in China. As of December 31, 2008, it owned an aggregate of 75 utility vessels of various types, leased 5 utility vessels from the joint venture company, Eastern Marine Service Ltd. on a long-term basis, as well as owned 4 oil tankers, 5 chemical carriers, which were mainly operated in off shore China. The off shore utility vessels provide services for off shore oil and natural gas fields exploration, development and production, and are responsible for supplies, cargoes and crew transportation and standby services in the sea, and provides moving and positioning for drilling platforms, towing and anchoring services for off shore vessels. Geophysical Services segment The company is a provider of geophysical services in offshore china, as well as a participant in the global geophysical market, the company owns 8 seismic vessels and 4 integrated marine surveying vessels. The company is a supplier of geophysical services for off shore China, as well as provides services in other off shore regions, including South and North America, the Middle East, Africa and Europe. Its geophysical services are divided into two main categories: seismic services and surveying services. The company owns 8 seismic vessels and 4 integrated marine surveying vessels. History China Oilfield Services Limited was founded in 1982.


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Valuation 601808 Industry Range
Price/Earnings 63.8x
Price/Sales 2.0x
Price/Book 1.4x
Price/Cash Flow 39.6x
TEV/Sales NM Not Meaningful

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