Pase PSC extended for 6 months
Monday, February 20 2012 - 01:35 AM WIB
Australia-listed oil, gas firm Triangle Energy (Global) Limited said that the upstream authority BPMIGAS had allowed it to operate its Pase Production Sharing Contract (PSC) in Aceh for a further 6 months pending a decision on the PSC status.
The company said over the weekend that BPMIGAS informed the contract extension last Friday (February 17, 2012) and currently, through its wholly owned subsidiary Triangle Pase Inc (TPI), it was working closely with the government to finalize a working agreement.
Triangle Energy lodged an application to renew the PSC in February 2010.
The Pase PSC covers an area of 922km2 in Aceh and was first granted in 1981 and has been operated by Triangle Energy through its wholly owned subsidiary TPI since June 2009.
Editing by Benget Besalicto Tnb.