China Oilfield Service

Energy
SHA: 601
China
COSL

[email protected]

CNOOC

"To our knowledge, in 2018, China Oilfield Services Limited (COSL), one of our non-controlled affiliates, provided certain drilling services in Iran." (CNOOC, Annual Report 2018).

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As of August 15, 2019, the state of Iowa listed China Oilfield Services on its Iran scrutinized companies list.

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China Oilfield is listed on the June 4, 2019 and July 12, 2019 Florida State Board of Administration list of prohibited investments (Scrutinized companies) for Iran related business.

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On June 30, 2019, New Jersey listed China Oilfield Services on its state list of entities determined, based on credible information, to be engaged in prohibited activities in Iran.

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China Oilfield Services is listed on the June 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

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China Oilfield Services is listed on the March 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

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CNPC is listed on the January 2019 Entities prohibited from Contracting with Public Entities in California list.

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In 2014, CalSTRS designated China Oilfield Services Limited as “Under Review” for potentially having ties to Iran. The company’s activities in Iran were confirmed in CNOOC’s 20-F Filing, which stated, “China Oilfield Services Limited (COSL), one of our non-controlled affiliates, continued to provide certain drilling and other related services in Iran in relation to subcontracting agreements entered into in 2009, as it did in 2012.” In 2014, CalSTRS designated China Oilfield Services Limited as “Divested and Restricted” and has maintained the “Divested and Restricted” designation in 2018.

China Oilfield Services Ltd is listed on the December 31, 2018 CalSTRs Portfolio of companies identified as possibly having ties to Iran and from which CalSTRs has divested from and restricted in 2018.

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China Oilfield Services is listed on the CalPERS November 2018 Iran Divested/Restricted companies list.

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In 2017, the states of Alaska, California, Connecticut, Florida, Georgia, Iowa, Mississippi, North Carolina, Ohio, Pennsylvania       South Dakota and Texas  listed China Oilfield Services on its Iran scrutinized companies list rendering China Oilfield Service ineligible for investment and/or state contracting.

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August 2017 - COSL Singapore Ltd (“COSL Singapore”), an oilfield services company located in Singapore and a subsidiary of China Oilfield Service Limited, has agreed to pay $415,350 to settle its potential civil liability for 55 apparent violations of the Iranian Transactions and Sanctions Regulations

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In 2014, China Oilfield Services Limited was identified as being involved in the development of oilfields in Iran.

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"The oil rigs currently operating in Iranian waters mostly work for Iranian state-owned companies. The rigs are owned by a variety of foreign firms, including Norway's Sinvest, London-based Foresight Group, China Oilfield Service, Japan Drilling and Saipem, a subsidiary of Italian oil giant ENI. Industry sources said they would probably be certified by either Lloyd's or Bureau Veritas. BV did not respond to inquiries." (The Washington Post, "Congress sees shipping-certification firms as tool to tighten Iran noose," 12/5/2011)