Hong Kong: Brightoil Petroleum (Holdings) Limited announced that the National Development and Reform Commission has officially approved the overall development plan for the Tuzi gas filed which is jointly developed by Win Business Petroleum and CNPC.
The Tuzi gas field is located in Luntai country of Xinjiang Uygur Autonomous region, which has cumulative gas extraction of 14.1bn cubic meters and a production period of 20 years. It is good news for Brightoil which has been suffering some financial turbulence of late, combined with the disintegration of its bunkering team in Singapore. [21/01/13]
