12
USA
Cutthroat A
OPIC Interest: 100%
Operator: OAL
Bougere
OPIC Interest: 30%
Operator: Zeit Concordia
Big Horn
OPIC Interest: 11.2%
Operator: EI Paso
Shoats Creek
OPIC Interest: 5%
Operator: EI Paso
S. Bancroft
OPIC Interest:10%
Operator: EI Paso
Danube
OPIC Interest: 10%
Operator: EI Paso
Yellowstone
OPIC Interest: 10%
Operator: EI Paso
NW Bearhead Creek
OPIC Interest: 10%
Operator: EI Paso
East Skinner Lake
OPIC Interest: 10%
Operator: EI Paso
In Ecuador, there are 147 producing wells in Block 16 including 50 work-
over wells and eight development wells; and 34 producing wells in Block 17,
including 20 work-over wells and seven development wells. In Indonesia,
there are 708 producing wells in the Sanga Sanga Block including 50 newly
completed development wells. Overall, CPC was allocated 6.17 million barrels
of crude oil and 375 million cubic meters of natural gas from its operations in
Ecuador, Indonesia and the U.S.A. in 2012.
Onshore in Taiwan, in addition to 84 square kilometers of geological surveys
CPC completed 92.07 square kilometers of 3D seismic data acquisition and
11.63 kilometers of 2D seismic lines. One exploratory well and two work-
over wells were completed in 2012. Currently there are 45 producing wells in
the Tiezhenshan, Qingcaohu, Jinshui, Chuhuangkeng, and Guantian fields,
turning out a total annual production of 502 million cubic meters of natural gas
and 11,400 kiloliters of condensate.
Offshore Taiwan, a project for investing in development of the F Structure
near Kaohsiung was under way but the EPCI (engineering, procurement,
construction, and installation) bid package for the platform was annulled in
March 2012 due to budget deficiency. After detailed review, the investment
project was reopened but with startup delayed for one year and was approved
by the Executive Yuan on November 21, 2012.
In the field of cross-straits cooperation, on December 18, 2012 CPC signed
an agreement with Husky Oil of Canada to explore the deep-sea blocks
in the Tainan Basin - a move undertaken to diversify exploration risk and
introduce advanced deep-sea exploration technology. In fulfillment of the
Tainan-Chaoshan Petroleum Contract, 3,300 kilometers of 2D seismic data
processing as well as 800 kilometers of old 2D seismic data re-processing
and their integrated interpretation have been completed.
In its future strategic deployment, CPC will seek in several ways to create
a more promising situation in its overseas exploration and production:
by heightening the asset value of its existing overseas oil and gas fields;
establishing core areas with high rates of growth; active participation in
bidding for open blocks; seeking opportunities to take over fields from large oil
companies; and pursuing M&A opportunities in new oil and gas fields so as to
augment the company’s reserves.
