China Oilfield Services Limited ("COSL" or the "Company") today released its unaudited financial report for the first quarter of 2026.
For the period, the Company continued to build a systematic value-oriented operational mechanism. Through lean management of resources, systematic cost control, and diversified business development, it systematically enhanced service support capabilities. All business segments worked in synergy, laying a solid foundation for high-quality development throughout the year. Revenue for the period was RMB 11.30 billion, up by 4.6% year-on-year; total profit was RMB 1.16 billion, 2.4% more year-on-year.
The drilling segment implemented precise regional coordination and dispatch of equipment, maximizing the operational potential of drilling platforms, with the available day utilisation rate increasing year-on-year. The technology segment continued to deepen collaborative innovation across the industrial chain, systematically advancing original technological breakthroughs and the transformation of research outcomes, resulting in year-on-year growth in both workload and revenue scale across its major business lines. The marine support service segment continued to strengthen resource pool development and took the lead in deploying vessels powered by an "LNG + energy storage battery" model, achieving coordinated improvements in energy efficiency, emissions reduction, and operational quality. The geophysical segment steadily enhanced its level of technological self-reliance, with continuous improvement in deep-sea exploration equipment capabilities and a significant year-on-year increase in 2D workload.
The Company will adhere to a demand-driven approach as its guiding principle, closely aligning with the mission of safeguarding national energy security and the development trends of the oil and gas industry. It will continue to enhance its integrated service capabilities and the provision of high-quality services, steadily strengthen its value creation capacity, and accelerate the building of a world-class energy resource service company.