(EQS-News / 12/05/2015 / 10:49 UTC+8)
[For Immediate Release]
Brightoil Appoints Danny Tan and Bruce Yung as
Company Secretary and Authorized Representative Respectively
(11 May 2015 - Hong Kong) The board of Brightoil Petroleum (Holdings)
Limited ("Brightoil Petroleum" or the "Group"; stock code: 933.HK)
announced that Mr. Ng Lok Ming, William has resigned as the Group's Company
Secretary and will cease to be an authorized representative of the Group
with effect from today. Meanwhile, Mr. Danny Tan Yih Lin, Executive
Director and Chief Financial Officer of the Group, has been appointed
Company Secretary for three years with effect from today. Dr. Bruce Yung
Pak Keung, an Executive Director and Chief Executive Officer of the Group,
has been appointed as its authorized representative effective from today.
Dr. SIT Kwong Lam, Chairman of Brightoil Petroleum, said, "Both Mr. Tan and
Dr. Yung are familiar with the operations and management of the Group. We
believe that under their leadership, the Group's operating efficiency will
be further enhanced, laying a solid foundation for its sustainable growth."
-End-
About Brightoil Petroleum
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. The
Company's interest in 2P reserves is expected to reach approximately 93.9
million barrels of oil equivalent. When all these three areas are in full
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 metric 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 terminal
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 terminal 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.
Brightoil Petroleum has been included in the Hang Seng MidCap Index,
effective from 9 March 2015.
For additional information about Brightoil Petroleum, please visit the
Company's website at www.brightoil.com.hk.
Press Release distributed by: Brightoil Petroleum (Holdings) Limited
For media enquiry, please contact: Hill+Knowlton Strategies Asia Fax:
(852) 2576 1990
David Shiu Tel: (852) 2894 6372 david.shiu@hkstrategies.com
Jackie Hua Tel: (852) 2894 6256 jackie.hua@hkstrategies.com
End of Press Release
+++++
Document: http://n.equitystory.com/c/fncls.ssp?u=XLLPYEYRYI
Document title: Brightoil Appoints Danny Tan and Bruce Yung as Company
Secretary and Authorized Representative Respectively
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(END) Dow Jones Newswires
May 11, 2015 22:51 ET (02:51 GMT)
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