TAIPEI (Taiwan News) — State-run CPC Corporation, Taiwan, on Friday (Nov. 27) rejected allegations there were problems regarding its agreement with a Chinese firm to explore oil in the African nation of Chad.
CPC’s announcement on Nov. 12 that it would start shipping oil from Chad to Taiwan attracted widespread public attention. This was partly due to the business including an agreement with the Chinese firm CEFC China Energy (華信能源).
Economic Affairs Minister Wang Mei-hua (王美花) said an investigation would show within a week the details of the decision-making process, CNA reported. CPC and CEFC each hold 35 percent of the exploration rights, with the remaining 30 percent in the hands of the government of Chad.
A CPC spokesman said the company would show the Ministry of Economic Affairs and the Legislative Yuan the original documents proving that it had not lost control over the project to the Chinese company. The joint agreements with CEFC and Chad all mention CPC as the project manager and include several safeguard levels, the Taiwanese oil company said.
The first shipment of 950,000 barrels from Chad’s Oryx field is on its way and will arrive in Taiwan in early December, CPC said. It vowed to continue its overseas oil exploration programs.