Bunker supplier and shipowner Brightoil Petroleum is spending close to RMB1bn ($156.5m) to engage CNPC as a contractor to carry out seismic, drilling and construction works at a natural gas field, Seatrade Asia online reports. China's state-owned oil firm CNPC will carry out 3D seismic survey for a consideration of RMB39.6m, ground-level construction works for RMB360m and drilling design and construction works for RMB600m.
Brightoil targets first gas production six months from the beginning of the construction. “It is the intention of the group to commence the gas facility production once it is fully completed,” Brightoil said in a statement.
Apart from its primary business of marine fuels supply, Brightoil has set aside $3bn to venture into the upstream oil and gas business with its first natural gas field project in northwest China's Xinjiang Autonomous Region.
Brightoil targets first gas production six months from the beginning of the construction. “It is the intention of the group to commence the gas facility production once it is fully completed,” Brightoil said in a statement.
Apart from its primary business of marine fuels supply, Brightoil has set aside $3bn to venture into the upstream oil and gas business with its first natural gas field project in northwest China's Xinjiang Autonomous Region.
