Taiwan's CPC Gets Niger Oil, Gas Exploration Rights

Taiwan’s CPC Corp has obtained rights to explore for oil and gas in Niger, the company said in a statement.

According to the statement, the company will explore in the Agadem oil fields where it has obtained rights from China National Oil and Gas Exploration and Development Corp (CNODC). As per the deal CPC will have 23.53% oil and gas exploration rights, 20% of production rights and 20% of pipeline usage rights.

Also, CNODC, a unit of China National Petroleum Corp, will receive 65% of benefits yielded from the development of the Agadem oil fields, CPC will gain 20 percent and Nigerien government will have the remaining 15 percent, according to the statement.