ANGOLA      ALGERIA      CAMEROON      CHAD.      CONGO      EGYPT      EQUATORIAL GUINEA      GABON      LIBYA.     NIGERIA      SOUTH AFRICA      SUDAN      TUNISIA      OTHERS 

China Oilfield Services Ltd. Starts Drilling in Libya

05-31-2008

China Oilfield Services Ltd., a unit of the nation's third-largest oil producer, started an onshore well drilling operation in Libya as it seeks increased income from overseas.

Construction of a second drilling rig to be used in Libya will soon be completed, Chief Executive Officer Yuan Guangyu said in a statement posted on the Beijing-based company's Web site yesterday. Yuan didn't give any further details on the timing or of the company's investment.

China Oilfield also signed a well cementing and drilling fluids contract with China Petroleum Ocean Engineering Co., it said in a separate statement yesterday. Ocean Engineering is a unit of China National Petroleum Corp., the country's biggest oil company.