Page 13 - 2023 CPC Corporation,Taiwan

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In 2022, following the government’s National Renewable Energy Policy, CPC completed a geothermal survey of Hungyie-Ruisui in Hualien County, which covered 72 square kilometers, and a geochemistry study of the area. Also, CPC signed an MOU with Baseload Power, a company developing geothermal power in the same area, to join forces in prospecting and exploration. CPC had already completed the production test of geothermal wells No. 14 and 15 in Tuchang, Yilan, whose geothermal power potential is 1.2MW (a conservative estimate). Building on such foundation, in 2022, CPC completed the drilling and prospecting for well Nos. 16, 17, and 18 in Tuchang, and began planning the CPC-owned 4MW geothermal power plant. In 2023, the company will expand the scope of exploration for two more geothermal wells in Tuchang and prepare for future power generation.
Offshore E&P and CCS
Starting on December 18, 2012, CPC worked with Husky Energy International Corporation to explore the oil and gas potential in the deep-water areas of the Tainan basin. The acquisition, processing, and interpretation of 2D and 3D seismic survey data was completed in 2021. CPC and Husky Energy also completed a joint study with risk assessment basin modeling in 2022 and expect to proceed with preliminary well design in 2023.
Regarding prospecting and exploration in domestic waters, CPC has targeted the Tainan basin, using new technologies to re-process and interpret seismic data and conduct oil and gas potential studies. Additionally, following the government's Net Zero emission policy, CPC is assessing potential sites for carbon sequestration at several basins offshore of west Taiwan. With CPC’s vast underwater geological data and exploration experience, the company is formulating short-, mid-, and long- term plans for offshore carbon dioxide sequestration. In the future, there is potential for establishing a large-scale commercial offshore site that not only meets CPC’s sequestration needs but also offers a new path for companies in Taiwan to reduce emissions.
2022 Domestic natural gas production
9,580 million cubic meters
2022 Domestic condensate production
1,868
kiloliters