China Oilfield Services To Acquire Norway's Awilco Offshore

China Oilfield Services Ltd is expected to announce today the acquisition of Norway-based rival Awilco Offshore ASA, the South China Morning Post reported, without citing sources.

It did not give the expected acquisition price, but previous media reports have said that a consortium led by COSL could pay upwards of 2 bln usd for the Norwegian oil-drilling contractor..

Awilco operates six drilling rigs in Libya, Saudi Arabia, Vietnam and Western Australia.

COSL is the oil-services arm of China National Offshore Oil Corp.

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