Zhitong Finance App News, CNOOC Finance App (02883) issued an announcement. In order to support COSL Drilling Brasil Ltd., a wholly-owned subsidiary of the company, to sign service contracts with Brazilian customers in drilling and well repair projects, the company provided them with a performance guarantee on March 22, 2024. The guarantee amount is within the annual performance guarantee amount. The guarantee period is from March 22, 2024 to the 90th day after the end of the service contract. The operation period is expected to start in 2025. The operation period is estimated to be about 3.5 years. 4.5 years.

The performance guarantee amount provided to COSL Drilling Brasil Ltd. this time is within the annual performance guarantee amount. As of the date of publication of this announcement, the total amount of external guarantees provided by the Company and its holding subsidiaries was approximately RMB 39.78 billion, accounting for about 94.1% of the Company's most recent audited net assets.