Page 13 - 2021 CPC Corporation,Taiwan

Upstream Operations
Expand international cooperation to raise the level of energy autonomy
Exploration and Production
Taiwan has limited indigenous energy resources; therefore, it depends on import for most of its fossil fuel needs. As a result, CPC has cooperated with the government’s “furthering energy supply security mechanism and forging international energy cooperation” policy. CPC is dedicated to improvement of its performance of new energy development, expansion of upstream operations and increase of oversea production to stabilize the supply of crude oil and natural gas of the domestic market and alleviate the impact brought by oil price fluctuation.
In order to improve overall strategic planning, on the basis of active expansion and focus, CPC has adopted exploration and production strategies which aim for expanding foreign operations and exploiting domestic operation, simultaneous undertaking of merger/acquisition and exploration/production and the training of talent for new breakthroughs, in hope of gradually increasing the ratio of self-owned energy reserves within its full sourcing range.
Exploration of onshore oil and gas resources and capacity of geothermal energy
Currently, the company’s 28 onshore producing oil and gas wells are located in and around Mt. Tiezhen, Qingcao Lake, Jinshui, Chuhuangkeng and Guantian. In 2020, they yielded 105 million cubic meters of natural gas and 2,170 kiloliters of condensate. In 2020, CPC carried on domestic onshore oil and gas resources exploration projects and completed a 115.86 km 2D seismic survey of geological structures on Pingtung Plain and 83-square-kilometer geologic surveys including a surface geology survey running from Chiayi to west of the Pingxi Fault in Tainan and a geothermal geology survey of the Mt. Datun area. In order to support national energy policy and actively participate in development of the green energy industry, CPC has also successfully completed the drilling of Tuchang No. 14 and No.15 geothermal wells and is now evaluating their potential of geothermal power generation.
Cooperation for deep-water exploration and self-reliant exploration and production
CPC, Total E&P Chine (TOTAL), and China National Offshore Oil Corporation (CNOOC) signed the Petroleum Contract of Taiyang Block on May 3, 2017. TOTAL, as the Operator, has conducted over 8,000 km 2D seismic survey data acquisition and completed the data processing as of 2020. The interpretation work will continue in 2021.
CPC has also worked with Husky Energy International Corporation to search for oil and gas in deep-water areas within the Block Deep Water 1 (DW- 1) in the Tainan basin and completed joint research on the source rock in 2020. Refinement of seismic interpretation of collaborated source rock study and assessment for resource scale of prospects are ongoing in 2021.
In order to increase the percentage of domestically produced energy and gas and oil resources, CPC is evaluating the upside hydrocarbon potential of Tainan and Taihsi Basins Taiwan as the reference for the further exploration on those areas. It has utilized multiple latest technologies, including broadband seismic survey, pre-stack depth migration and a new model for interpretation of seismic survey results for re-processing of available seismic survey information and subsequent consolidation of interpretation and assessment. CPC has also reviewed several sites with exploration potential and planned related operations like boring with the aim to discover resources in national sea areas as soon as possible.
2020 Domestic
natural gas production
105
2020 Domestic condensate production
2,170
10
11
million
cubic meters
kiloliters
Upstream Operations