Taipei - Taiwan's state-run Chinese Petroleum Corp (CPC) signed a deal with a Canadian firm Thursday to jointly mine oil sands in Canada.

CPC signed a memorandum of understanding (MOU) in Taipei with Canada's Indian Oilsands, which is based in Canada's Saskatchewan Province.

Under the deal, CPC and Indian Oilsands will explore the feasibility of jointly mining oils sand in Saskatchewan.

Canada has the world's largest reserves of oil sands, a form of extremely heavy crude or oil-rich bitumen.

Although most of Canada's oil sands are in Alberta Province, some companies are also exploring for oils sand in nearby Saskatchewan. (dpa)