Proving the Ability to Carry out Petroleum Exploitation and Export Technical Services, CPC Corporation, Taiwan (CPC) Expands Well Into Global Exploration and Production

TAIPEI--(BUSINESS WIRE)--With the arrival at the end of 2020 of a tanker carrying the first cargo of crude oil produced from the Chadian Oryx Concession, which CPC is managing as the operator, CPC is announcing to the world its vision to explore and produce oil and gas globally.

In the past 40 years, CPC has participated in overseas oil and gas projects through direct negotiation, bidding or joint bidding. Currently, it has joint ventures with international oil companies in a total of eight projects in six countries, including the United States, Indonesia, Chad, Niger, Ecuador, and Australia. Among them, the assets in Australia, Niger, Chad, and Ecuador have entered the production stage.

From pre-acquisition evaluation, acquisition, and exploration to oilfield development and production, the Chad’s Oryx Concession is managed entirely by CPC. This exhibits CPC’s superb capabilities in seismic survey, drilling and other technologies that are in line with industrial standards, especially in the fields of geoscience and oil well drilling. The main geological modeling technology used in the Chad exploration block is of international level, showing CPC has the ability to iexplore and develop oil and gas fields from scratch, and to export relevant technological services to other countries.

Established 74 years ago, CPC is a Taiwanese state-owned enterprise and is Taiwan’s largest energy group. CPC is responsible for ensuring the nation’s energy security, stabilizing the supply of oil and gas products, and promoting the country’s economic development. It is listed as one of the 500 largest companies in the world by Fortune magazine. It is an integrated energy group covering the upper, middle, and downstream petroleum sectors business.