Aceh government appoints Triangle as partner to operate Pase Block

By Nellawati

ASX-listed Triangle Energy (Global) Limited said that the Aceh provincial administration has selected the company, the present operator, to partner with them to operate the Pase Blocks located in the province.

?A committee of Acehnese industry experts were appointed to carry out a tender process to seek the most qualified partner to operate the Production Sharing Contract (PSC) with the Acehnese Government. The tender process has taken seven months and resulted in Triangle being selected by the committee as the most qualified partner,? Triangle said in a statement received Monday.

The company added that the joint venture has the full support of the Governor of Aceh, Zaini Abdullah, who has sent a letter to the Minister of Energy explaining the process and the selection of Triangle as operator with the Aceh government as their partner of the Pase Block. The Aceh government will now formalize the process with the Indonesian central government.

?Triangle will continue to act as operator of the Pase Block until the finalization of a new PSC, the company said.

Editing Reiner Simanjuntak