CPC’s First Oil Shipment From Chad Has Arrived In Taiwan

The first tanker to carry crude oil from a field in Chad co-managed by CPC Corporation, Taiwan arrived on the island Monday (Nov. 31).

CPC’s first oil shipment from Chad has arrived in Taiwan

By Matthew Strong

The state-run group described the arrival as a “milestone for 40 years of overseas exploration” and as a “historic page in the country’s energy autonomy,” while organizing a special welcome ceremony at the port of its Dalin refinery in Kaohsiung City, CNA reported.

The ship carrying 950,000 barrels’ worth of crude oil from the Oryx field in the land-locked country of Chad left port in Cameroon in October.

The project has also attracted close attention because one of the other shareholders is Hainan-based CEFC China Energy (華信能源). CPC and the Chinese firm each hold a stake of 35 percent in the exploration rights, with the remaining 30 percent in the hands of the government of Chad.

CPC officials have insisted they are in charge and the Chinese company’s participation will not influence their management of the project.

The Taiwanese corporation’s subsidiary Overseas Petroleum and Investment Co. (OPIC) obtained exploration rights in Chad for three plots totaling 30,000 square kilometers in 2006, according to the Liberty Times. A license to extract oil for 25 years was awarded in 2017, with production starting last February.

Originally published at Taiwan news

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