Brightoil Shipping

Brightoil Petroleum (Holdings) Limited is a resource-based energy enterprise focusing on upstream oil and gas resources exploration, along with further developments midstream and downstream. The Group is principally engaged in the exploration, development and production of Upstream Oil and Gas Fields, Marine Transportation, Oil Storage and Terminal Facilities and International Trading and Bunkering Business.

The Group has three oil and gas field projects in its portfolio, including Dina 1 Gas Field, Tuzi Gas Field and Caofeidian oil Field in Bohai Bay. According to the report issued by DeGolyer and MacNaughton (“D&M”), as at 31 August 2014 the Group’s aggregate 2P reserves have reached 93.9 million barrels of oil equivalent. When all these three blocks are in operation, Dina 1, Tuzi and Bohai will reach a daily net production of approximately 25,000 barrels of oil equivalent, and an annual net production of approximately 9 million barrels of oil equivalent.

The Group currently operates four Aframax Oil Tankers and five VLCCs, and has a total capacity exceeding 2 million tonnes.

The Group’s oil storage facility on Waidiao Island in Zhoushan, with a total capacity of 3.16 million cubic meters, is under construction. The facility will be equipped with 13 berths which can accommodate vessels from 1,000 to 300,000 deadweight tonnage. Meanwhile, the Group’s oil storage facility on Changxing Island in Dalian, with a total capacity of 7.19 million cubic meters, is also under construction. The facility will be equipped with 13 berths to accommodate vessels from 1,000 to 300,000 deadweight tonnage.

The Group is one of the largest marine bunkering service providers in China with services expanded to global ports. The Group’s tradable range of products is diversified into fuel oil, crude oil, gas oil, as well as petrochemical and the related petroleum products.

The Group will continue to develop its upstream business by stretching its tentacles into the exploration, development and production of oil fields with a view to becoming one of the leading resources-based energy conglomerates in the world.