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Tue 14 Aug 2012 16:11

Brightoil appoints upstream VP


Appointment is next step in Brightoil's strategy to expand its upstream business.

Hong Kong-listed Brightoil Petroleum (Holdings) Limited has announced the appointment of Kenneth D. Bryant as vice president of its upstream division.

Bryant has over 25 years' experience in the industry. His appointment forms part of Brightoil's strategy to further develop its upstream business following the group's growth in the sector in recent years.

Brightoil first entered into a Production Sharing Contract (PSC) with China National Petroleum Corporation in August 2009 for joint development and production of natural gas in Xinjiang's Tarim Basin.

In January 2010, technical studies for the Overall Development Plan (ODP) for the Tuzi natural gas project were initiated and a first draft was completed by the end of December 2010. The ODP was subsequently submitted to the relevant government bodies for review and approval.

In March 2011, Brightoil announced that Win Business Petroleum Group (Grand Desert) Limited, had entered into a construction framework agreement with CNPC Chuanqing Drilling Engineering Co., Ltd. (CCDEC) for the development and construction of the Tuzi natural gas field - Brightoil's first upstream project.

Towards the end of last year, Brightoil entered into an agreement to acquire Win Business Petroleum Group Ltd., wholly owned by Dr. Sit Kwong Lam, chief executive officer of Brightoil Petroleum, who held the rights to develop and produce natural gas at the Xinjiang Tarim Basin Dina 1 Gas Field.

Following the acquisition, Brightoil now holds the rights to the exploitation, development and production of Dina 1 Gas Field in partnership with China National Petroleum Corporation (CNPC). Production at the Dina 1 Gas Field commenced in January 2012.

Brightoil is a leading marine fuel supplier in Singapore, the world's leading bunker port by volume. The company leapt to second place in the list of top suppliers in Singapore last year, up from 34th in 2010. It also has a strong presence in Rotterdam, Tanjung Pelepas, Hong Kong, as well as the Chinese ports of Shenzhen, Shanghai, Ningbo and Zhoushan.

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