China Oilfield Services Limited (Stock Code: 601808, hereinafter referred to as "COSL") released its 2025 interim report. In the first half of this year, amid a complex and volatile global economic environment with fluctuating international crude oil prices, the oilfield services industry continued to develop driven by factors such as technological innovation. Against this backdrop, COSL continuously strengthened the depth and breadth of strategic planning, enhanced the intensity and precision of strategic implementation, and coordinated the promotion of production operations and reform development initiatives, presenting an overall high-quality and sustainable development trend.
Specifically, the company achieved operating revenue of 23.32 billion yuan during the period, representing a year-on-year increase of 3.5%. Net profit attributable to shareholders of the listed company was 1.964 billion yuan, up 23.3% year-on-year. Non-recurring net profit attributable to shareholders of the listed company was 1.939 billion yuan, up 20.9% year-on-year. Basic earnings per share reached 0.41 yuan, representing a 24.2% year-on-year increase.
In its "2025 Quality Enhancement, Efficiency Improvement and Enhanced Returns" action plan, COSL indicated its commitment to providing long-term and stable investment returns for investors. The company will distribute cash dividends of more than 1.1 billion yuan for 2024, an increase of approximately 100 million yuan from the previous year. Both the total cash dividend amount and the ratio of cash dividends to net profit attributable to company shareholders have maintained a three-year growth trend. The company will comprehensively consider future earnings, capital requirements, financial conditions, future prospects, and other factors deemed relevant by the board of directors. While balancing the company's long-term interests and sustainable development, it strives to create better returns for shareholders, boost market confidence, and drive value enhancement.
As one of the world's largest comprehensive oilfield service providers, COSL possesses a complete service chain and a powerful offshore petroleum service equipment fleet, making it one of the few suppliers in the global oilfield services industry capable of providing integrated services. The company's services span all stages of oil and natural gas exploration, development, and production, with main businesses including geophysical acquisition and engineering survey services, drilling services, oilfield technical services, and vessel services. Its service areas include China's offshore and onshore regions, as well as Asia-Pacific, Middle East, Europe, Americas, and Africa.
By business segment, COSL's drilling services division achieved operating revenue of 7.238 billion yuan in the first half, up 12.8% year-on-year. The oilfield technical services division recorded operating revenue of 12.378 billion yuan, down 3.5% year-on-year. The vessel services division achieved operating revenue of 2.609 billion yuan, up 19.8% year-on-year. The geophysical acquisition and engineering survey services division realized operating revenue of 1.095 billion yuan, remaining essentially stable compared to the same period last year.
As of June 30, 2025, the company operated and managed 60 drilling platforms (including 46 jack-up drilling platforms and 14 semi-submersible drilling platforms), with 45 located in China and 15 in international regions. The company also operates and manages over 200 vessels of various types, including workover vessels, multi-purpose vessels, workover support vessels, platform supply vessels, and oilfield guard vessels, with main business volumes showing increases.
COSL stated that in the second half of this year, it will focus on target achievement and implementation, concentrate efforts on quality and efficiency improvement, and fully commit to key tasks including reserve and production increases, technological innovation, lean management, and risk prevention and control. The company will continue to deepen value-creation-centered intensive development, complete the "14th Five-Year Plan" objectives with high quality, deliver good performance to reward all shareholders and society, and strive to write a new chapter of high-quality development in marine energy services.
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