CNOOC sister company China Oilfield Services (COSL) has estimated that its capital expenditure will reach US $4-$5 Bn in 2013, as it moves forward with the development of several strategic projects. It stated that the majority of its spending will be on the development of its rigs and offshore support vessels, including the COSL Prospector semisub rig, two jackups, one other 1,524 m (5,000 ft) capacity semisub, 14 utility vessels, one oilfield production and support vessel, one integrated surveying vessel and one 12-streamer seismic vessel. The COSL Prospector is under construction at the CMIC Raffles yard, and is a DP semisub fitted to Norwegian certification standards. The rig is due for delivery in the second half of 2014, and will have a maximum water depth capacity of 1,500 m (4,921 ft). COSL added that more than 80% of its rigs have operational contracts for 2013 secured.
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