Sharecat Solutions has secured a contract from China Oilfield Services subsidiary COSL Drilling Europe AS, to support the spares management activity for their newbuild project at Yantai Raffles Shipyard.

Under the contract Sharecat Solutions will set up, quality assure and deliver a material master inventory and material management system with structured information on parts, BOM’s and document/tag links for the COSL Pioneer drilling rig. Sharecat’s scope of work also includes facilitation of the spares management process.

Erlend Wedul, COSL’s Maintenance Manager stated: “We wanted to ensure that we identified the rigs’s spares need in an efficient manner and in due time before operation. To define the optimal amount of spare parts and to set the correct stock control criteria, a good database/programme is needed.. Experience so far and discussions with Sharecat have confirmed our views that the choosen tool and method are cost effective and give a good quality control of the basic data”.

SHAREcat has been implemented by over 30 oil and gas owners and engineering contractors. Developed in cooperation with industry users, it speeds time to first oil and gas by increasing the quality and accuracy of the supply chain information handed over to plant operations. SHAREcat solutions have also been shown to improve procurement processes by as much as 90% and cut inventory costs by 20%, according to Sharecat.

“Sharecat will give COSL maximum visibility of all technical information and its status, as well as providing earlier delivery of links to asset information to allow optimum start-up and operation” said Sharecat Solutions Vice President Stein-Yngve Iversen.

Read the news in Norwegian (offshore.no) http://offshore.no/nyheter/sak.aspx?Id=28660

ABOUT COSL

COSL Drilling Europe AS is a subsidiary of China Oilfield Services Limited, Beijing, China. COSL Drilling Europe AS is located in Stavanger, Norway.

Currently the company has two accommodation units working for ConocoPhillips on the greater Ekofisk Area and three semi submersible drilling rigs under construction at Yantai Raffles Shipyard, in Yantai, Dalian and Penglai. COSL Drilling Europe has a mission to build and operate fit for purpose semi submersible drilling units and provide world class offshore drilling and well operations anywhere in the world.

For more information contact:

Magnar Fagerbakke
Vice President – Marketing & Contracts
+47 90 17 19 55

www.cosl.no