Chinese offshore drilling contractor China Oilfield Service Ltd has chartered a jack-up workover rig to carry out well service operations for CNOOC Ltd in the western part of the South China Sea.

The charter of the Guozhan unit is the latest effort by SinoOcean Offshore Assets Management to secure employment for offshore rigs built by Chinese yards but abandoned by their original owners.

SinoOcean is a government entity set up in 2019 with a mission to “consolidate, optimise, remodify and manage” offshore rigs, vessels and other assets ordered but stranded in China following the oil market downturn between 2014 and 2016.