10 / 57
10
1
2 3 4 5 6 7
8 9 11 12 13 14 15
16 17 5 6
Fields under development
or producing
Fields under exploration
Fields being developed in
cooperation with China
10
1
2
3
4
5
6
7
8
9
US - Colorado
KC320(20%)
Operator：Mendell
US-Louisiana / Texas boundary
Big Horn(11.2%)
Shoats Creek(5%)
S.Bancroft(10%)
Danube(10%)
Yellowstone(10%)
NW Bearhead Creek(10%)
East Skinner Lake(10%)
Operator：Indigo Minerals
Skinner Lake(5%)
Operator：Will Drill
US-Louisiana
Austin Chalk(20%)
Operator：Yuma
Increasing involvement in overseas
exploration
The likelihood of Taiwan's terrestrial oil and gas fields
becoming depleted over the next ten years calls for action to
replace their output. We are therefore continuing our efforts
with both domestic and foreign exploration and production, as
well as engagement with suitable M&A opportunities.
Taking foreign exploration as an example: in 2015, six
exploratory wells were drilled in the Chali West III block and
other areas in Chad; oil and gas were found in two of them and
the current drilling of one confirmatory well is being expedited.
Two exploratory wells were drilled in Libya's Murzuq 162 Block
and both turned out to be dry. The outbreak of civil war in that
country forced CPC's local subsidiary to suspend operations
and continuing unrest has precluded both their resumption
and completion of one obligatory well.
In mid-2015 CPC acquired three concessions in Texas - the
San Jac, Lazy M5 and Snickers; three wells were drilled, of
which two were producers.
Upstream has produced outstanding results
From their beginnings in 1959, CPC's upstream operations
- exploration and production at both onshore and offshore
oil and gas fields in Taiwan, the Taiwan Strait and overseas
– have been highly successful in terms of yield, which so far
amounts to over NT$200 billion-worth.
The inherent vision behind upstream is to see the company
become an international oil and gas exploration player with
high asset value.
Accordingly, CPC's upstream entities will maintain their
efforts with international cooperation and M&A in exploration
to boost autonomously-controlled oil and gas reserves – by
acquiring mid-to-small oil and gas fields, especially those
with low risk, and extending contracts with producing fields -
and will seek opportunities for investment in overseas assets
during times of low oil prices. In addition, development of
diversified business operations including green industries
will be ongoing.
CPC's performance in Exploration & Production
over the last three years
* Total operating revenue: NT$1.19 trillion in 2013, NT$1.19 trillion in 2014
and NT$844 billion in 2015.
Unit: NT$ Million
Year
2013
2014
2015
Revenue
Operating costs
Earnings
Pre-tax profit
16,631
12,159
4,472
4,368
1.40%
Revenue as a share of
the Company's total
operating revenue*
14,228
12,895
1,333
783
1.19%
9,947
8,784
1,163
1,205
1.18%
10 CPC 2016