Chad: CEFC China buys stake from Taiwan’s CPC

Taiwan’s CPC Corporation has farmed down half of its 70% stake in three exploration licences to CEFC China Energy Company, following a drilling programme in 2015. According to the transfer agreement between CPC and China CEFC Energy, the privately owned Chinese firm paid $114m for a 35% stake, Taiwan’s Central News Agency reported. CPC retains 35% and state oil company Société des Hydrocarbures du Tchad (SHT) holds the other 30%. CPC’s OPIC Africa subsidiary operates the Chari Ouest III, Chari Sud II and Lac Tchad 1 blocks.