Project Profile
Location: Taiwan Strait, Taiwan
Area: 15,400 sq. km
Start-up year: -
Tainan-Chaoshan Petroleum Operating Co is a 50:50 joint venture between CNOOC and Taiwan\'s CPC to explore the deepwater hydrocarbon potential in the Taiwan Strait. The partners have extended their agreement to explore the block four times since 2003. The latest extension is set to expire by the end of December 2018. Tainan-Chaoshan Petroleum has drilled three shallow-water wells, but none of them discovered commercial hydrocarbons.
The block consists of 7,800 sq. km of acreage from mainland China\'s side of the divide and 7,600 sq. km from Taiwan\'s side.
The latest drilling campaign follows a 2,000-sq. km 3-D seismic survey, which was completed in the early 2017. The partners plan to drill one or two appraisal wells at the block, if the processed well data shows good hydrocarbons potential.
Operators:
Tainan-Chaoshan Petroleum Operating Co.
CNOOC: 50% interest
CPC: 50% interest
Contractors:
China Oilfield Service Ltd (COSL): Drilling contract for COSL Prospector deepwater semi-submersible rig