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CPC signed a Global Strategic Cooperation Framework Agreement with Schlumberger

22 Sep 2022

CPC Corporation, Taiwan (“CPC”) has signed a Global Strategic Cooperation Framework Agreement with Schlumberger Oilfield Holdings Ltd. (“Schlumberger”) to collaborate on digital transformation, the deployment of a cloud-based cognitive Exploration & Production platform, carbon capture, utilization and sequestration and the assessment of geothermal prospects, in line with Taiwan’s Pathway to Net-Zero Emissions in 2050.

The signing ceremony was held at the "Digital Forum 2022" event organized by Schlumberger in Luzern, Switzerland, to showcase CPC's actions in pivoting to a low carbon future, and the determination of Taiwan in driving towards a 2050 net-zero economy. Signing on behalf of CPC was its Vice President, Mr. Min Chang, while Schlumberger was represented by its Senior Vice President, Mr. Frederik Majkut.

CPC, in response to the national goal of 2050 net-zero emissions, has begun to actively develop various energy transition-related businesses in accordance with the three strategies of products upgrade, carbon reduction, and clean energy. Schlumberger is also developing focused solutions in the fields of decarbonization and digital transformation. Leveraging the long-term cooperation between the two companies in oil and gas exploration and production in Taiwan and overseas, the expansion of the strategic cooperation will now support CPC in accelerating its energy transition roadmap.

After the signing of this agreement, the parties will jointly carry out strategic planning and program deployment in the fields of digital transformation, geothermal energy, carbon capture, utilization and sequestration, to deliver on Taiwan’s net zero goal.