Taiwan’s CPC Corp. has celebrated the arrival of Chadian crude in its home market.
CPC said it had begun trial production at its Oryx concession in February. It exported a first cargo in October, with 950,000 barrels of crude leaving Cameroon’s Kribi terminal. The oil arrived in Taiwan at the end of November.
The Taiwanese company held a ceremony to celebrate the arrival at the Dalin refinery on December 1.
CPC’s chairman Jerry Ou, speaking at the ceremony, said: “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.”
CPC signed a contract with Chad in 2006, discovering oil in 2011. The company said it had managed seismic surveys, drilling, development and production at the Oryx concession.
The Taiwanese company works via OPIC Africa in Chad, holding a 35% stake in Oryx. CEFC China Energy has 35% and Chad’s state-owned Société des Hydrocarbures du Tchad (SHT) has 30%. The three companies have the same shares in BCO III, BCS II and BLT I.
CPC has said it is seeking opportunities in Southeast Asian states and also US shale assets. The company is also working in Niger.