Page 12 - 2023 CPC Corporation,Taiwan

10 Upstream Operations
Striving for Low-carbon and Renewable Energy

Taiwan has limited indigenous energy resources; therefore, it depends on imports 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 improving its performance in new energy development, expanding upstream operations, and increasing overseas production, to stabilize the supply of crude oil and natural gas to the domestic market
To improve overall strategic planning, and based on active expansion and focus, CPC has adopted exploration and production strategies that aim to expand overseas operations and exploit domestic operations, simultaneously undertaking mergers and acquisitions and exploration and production, as well as the training of talent for breakthroughs, in the hope of gradually increasing the ratio of self-owned energy reserves within its full sourcing range, moving towards developing low-carbon energy resources.
Planning geothermal power plants per government policy
Currently, the CPC’s onshore producing oil and gas wells are located in and around Mt. Tiezhen, Jinshui, Ching Tsaohu, and Guantian. In 2022, they yielded 95.8 million cubic meters of natural gas and 1,868 kiloliters of condensate.