The Hong Kong-listed conglomerate has heldtalks with Anadarko Petroleum and Newfield Exploration about possibly buyingtheir assets in China, Reuters reported on Friday.
Shares in Brightoil were suspended onTuesday pending an announcement on what the company called “a very substantialacquisition”.
Reuters cited an unidentified source closeto Brightoil as saying the announcement would relate to an upstreamacquisition.
Anadarko is looking to sell its 35% stakein the Caofeidian field complex in Bohai Bay off Northern China, as it seeks toconcentrate on US plays.
