Taiwan's CPC eyes expanded joint oil exploration with China's CNOOC
05-SEP-2008 Intellasia | Xfn-Asia
Sep 5, 2008 - 7:00:00 AM
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Taiwan's state-owned CPC Corp said it wants to expand joint oil exploration with China National Offshore Oil Corp (CNOOC) to the East China Sea and areas off Australia, Chad and Kenya.
"We are interested in oil exploration in any areas that could provide possible opportunities," CPC's vice-president Chu Shao-hua said.
"We have tendered our request to CNOOC for oil exploration in the East China Sea," he said. "We are waiting for their response."
The two companies are currently scouting for the best site for their second joint well in the Tainan Basin, which is in the Taiwan Strait near southern Taiwan.
CPC and CNOOC had teamed up for their first well in the Tainan Basin but failed to find any oil there.
Both companies are also seeking to expand their ties to another Taiwan Strait site, the Nanjih Islands Basin that is in the west of Taiwan's northern Keelung.
"We earlier had consensus for oil exploration in the Nanjih Islands Basin but the plan was put on hold until now," the CPC official said.
CNOOC has indicated interest in joint exploration for oil and gas in the Nanjih Islands Basin but the two parties need regulatory approval before any further action, Chu added.
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