CPC Corporation, Taiwan Succeeds in Global Expansion of Petroleum Exploration and Production Projects

TAIPEI, Taiwan--(BUSINESS WIRE)--At the end of 2020, a tanker carrying the first cargo of crude oil produced from the Chadian Oryx Concession operated by CPC Corporation, Taiwan (CPC) arrived in Taiwan, demonstrating CPC’s expertise and capabilities in managing the exploration, development and production of oil and gas reserves overseas. With this milestone achievement, CPC is announcing its vision to explore and produce oil and gas globally.

As Taiwan’s state-owned enterprise and the largest energy group, CPC is responsible for ensuring the nation’s energy security, supplying oil and gas, stabilizing prices, and securing the sustainable development of the national economy and people’s livelihood, as well as promoting economic development. At the same time, it continues to foster an international outlook. Currently, it has exploration cooperation agreements with international oil companies in a total of eight blocks in six countries, including the United States, Indonesia, Chad, Niger, Ecuador, and Australia. Among them, the assets of Australia, Niger, Chad, and Ecuador are in production phase.

Guided by Taiwan’s New Southbound Policy, CPC is also seeking opportunities for oil and gas joint venture projects in Southeast Asian countries, and is studying and assessing whether Indonesia, Malaysia, Myanmar and other countries have suitable oil and gas potential areas for further foreign investment. On the other hand, it is also actively considering acquiring U.S. shale assets through joint ventures or mergers and acquisitions.

Established 74 years ago, CPC 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.