SKK Migas extends Triangle?s appointment as temporary operator of Pase block

By Puspita Maylana Devi

ASX-listed Triangle Energy Ltd said that Indonesia?s upstream authority SKK Migas has extended Triangle?s appointment as the temporary operator of the Pase block in Aceh for six months from the date of August 24, 2013, or until the definitive operator is appointed, whichever occurs first.

?This provides for uninterrupted operatorship of the Pase field,? the company said in a statement obtained Monday.

Triangle has operated and produced gas from the Pase field since 2009. Production during the March quarter totaled 88.6 MMcf from three wells, A-1, A-5 and A-6.

The company in July signed an agreement with the Aceh provincial government-owned company PDPA to set up a joint venture called Aceh Pase Global Energy Pte Ltd (APGE), which aims to become the operator of the Pase block under a planned new 3-year PSC. APGE is 75 percent owned by Triangle.

Editing by Reiner Simanjuntak