CPC Corporation, Taiwan Lauds Successful Chadian Experience of Crude Oil Production

TAIPEI, Taiwan–(BUSINESS WIRE)–CPC Corporation, Taiwan (CPC) has been exploring for oil in Africa for decades. In 2006, it signed a contract with Chad’s Ministry of Petroleum and Energy under the name of OPIC Africa. In 2011, it discovered a large amount of crude oil at the first well. In 2017, it was granted the development and production license for the Oryx Concession. It conducted trial production in February 2020. In October 2020, the first cargo of oil produced from Oryx Concession — a tanker carrying about 950,000 barrels of crude oil — departed from the Kribi terminal in Cameroon and arrived in Taiwan at the end of November. On December 1, CPC held a ceremony to celebrate the first cargo of Chadian crude oil arriving in Taiwan at the Dalin Refinery operated by CPC’s Refining Business Division, to announce the latest results of its overseas petroleum exploration project.

CPC Chairman Jerry Ou said at the ceremony: “The Chad Oryx Concession is the first time that CPC has conducted exploration overseas as an operator and entered into development and production phase. This shows that CPC has the capacity to manage the whole life cycle of petroleum exploration and production project by itself. In the future, CPC will replicate its successful experience in Chad and will continue to expand overseas exploration areas to help achieve energy independence for Taiwan.”

Over the past 40 years, CPC has participated in global exploration as well as mergers and acquisitions. In recent years, it has achieved brilliant accomplishments in Africa, Australia, South America, and Southeast Asia, all of which increased Taiwan’s ability to maintain national energy security. CPC will continue to work towards the vision of building itself into an international petroleum upstream sector business with a high asset value.

The seismic surveys, drilling, development and production of the Chad Oryx Concession are all managed by CPC. The company is proud of its expertise in geoscience, oil well drilling and geological modeling technology. Its international export technical services and the technology for oilfield development planning also can be shared with the international community.

Established 74 years ago, CPC is Taiwan’s largest energy group and is listed in Fortune’s Global 500. It is an integrated energy group covering the upper, middle and downstream petroleum industries.

Contacts

Luo Tsuei-yi

886-2-5051180 ext.680

tyl@mail.cna.com.tw