China Oilfield Services (COSL) (601808,2883.HK) won approval from the China Securities Regulatory Commission for its plan to raise up to seven billion yuan from an offering of a maximum of 500 million new shares, reports Yicai.com, citing a company filing.  Funds raised will be used to construct an oilfield services ship, a 200 feet cantilever jackup, deepwater ships and geophysical survey vessels.