COSL wraps up Arctic seismic survey

China’s marine seismic company COSL has completed what it says is China’s first geophysical exploration in Arctic waters.

To make it a bit clearer, it is not that China has somehow managed to expand its territorial claims to the Arctic Circle, but rather, the news is that this is the first Chinese vessel to carry out such a survey in the area.

COSL had deployed its 12-streamer seismic vessel “HYSY 720” which carried out seismic data acquisition over two blocks in the Barents Sea.

After a hundred days of surveying, the operation was wrapped up on Tuesday, August 9.

While COSL does not reveal the name of the client, nor the exact location of the surveys conducted, The Barents Observer reported in May that the client was the Russian oil company Rosneft, which hired COSL for the seismic shoot in the Russian sector of the Barents Sea. The vessel’s AIS data shown by MarineTraffic supports these claims.

China Arctic COSL

In a statement on Tuesday, COSL acknowledged the struggle oilfield services sector is undergoing, pressured by low oil prices. In response to that, the Chinese firm said it was accelerating its ‘going out’ strategy.

By ‘Going Out’ COSL said it was working towards extending its reach outside of China into the international oilfield services market as well. COSL said it is now deriving 40% of its revenue from the overseas market, with its seismic vessels having worked in the New Zealand, the Middle East, and the Far East.

 

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply