Jan 2014: CPC has decided to suspend development of the F Structure oil and gas field offshore Kaohsiung as the projected return on investment has fallen short of expectations. CPC is also co-operating with Husky Energy in exploration of deep-water blocks in the Tainan Basin over which a 2D seismic survey has been acquired. Interpretation is underway.
No significant news in 2013.
Dec 2012: CPC Corporation has suspended the Block F offshore gas field development for one year, with a new EPIC contract tender to be launched in late 2013. The suspension will give the government-owned company time to review the project budget. Potential first gas from the field will be delayed to early 2016.
Dec 2012: CPC is venturing into deep waters in the Taiwan Strait to search for natural gas with Husky. It is Taiwan's first deep water gas search off its SW coast in the South China Sea. CPC produces 5% of Taiwan’s gas from onshore and shallow water offshore. CPC will also sign a 50:50 joint-venture deal with CNOOC by late 2013 to explore for natural gas in deep waters in the Taiwan Strait after failing to make shallow water finds in nearly a decade of joint prospecting.