COSL

Recently, Moody’s Ratings released its latest credit rating report, affirming China Oilfield Services Limited(“COSL” or the “Company”) with an A3 issuer rating and baa3 Baseline Credit Assessment (BCA), and upgrading the outlook from stable to positive. Additionally, Moody’s Ratings also affirmed the A3 rating on the guaranteed senior unsecured Euro Medium Term Note (EMTN) programme and notes issued by the Company’s subsidiary, COSL Singapore Capital Ltd. This fully reflects the international capital market’s strong recognition of the Company’s comprehensive strength and development prospects.

In revising the outlook upward, Moody’s Ratings fully acknowledged COSL’s long-term solid financial performance, industry-leading market position, and prudent financial management. According to the report, benefiting from sustained investment in China's offshore oil and gas development, stable business demand from the CNOOC business system, and steady expansion of overseas operations, the Company is expected to maintain solid profitability and low debt leverage.

This positive rating outlook revision represents international rating institutions’ authoritative recognition of the Company’s industry leadership, financial resilience, and business growth potential. The Company will maintain prudent operations, optimize and strengthen its core business, steadily advance its overseas business layout, continue to consolidate financial security, comprehensively enhance overall competitive capability, and diligently strive toward the goal of becoming a world-class energy resource services provider.