TAIPEI, Aug 16 (Reuters) - Taiwan's state-owned energy company CPC said Wednesday it had received Australian government approval to acquire four subbasin permits in oilfields off Western Australia from Carnarvon Energy Ltd .

CPC's subsidiary OPIC Australia Pty Ltd reached the deal with Carnarvon in February, in which Carnarvon agreed to divest a 10% interest in the Dorado oilfield.

Carnarvon said in a February release that it expected to receive $146 million in cash from the investment. This comprises an upfront payment of $56 million on completion of the transaction and another $90 million once a final investment decision is taken on the Dorado development. (Reporting by Ben Blanchard; Editing by Jacqueline Wong)