COSL to Deploy China’s First Deepwater Exploration Vessel in South China Sea

Based on the China Petroleum Daily report, we will soon witness China putting into use its first deepwater exploration vessel in the South China Sea, Reuters reports.

China National Petroleum Corp (CNPC) stated that the Ocean Oil 708 can work in water depths of 3,000 meters and its drilling system can tap 600 meters below the seabed however the specific part the vessel will be employed in has not been reported.

Baoji Oilfield Machinery Co, a unit of CNPC, constructed the drilling system for the vessel. It was delivered on December 16 to China Oilfield Services Ltd (COSL) (2883.HK) in Guangzhou.