SKK Migas extends Triangle?s role as operator of Pase block

By Romel S. Gurky

ASX-listed Triangle Energy (Global) Limited announced Monday that the Indonesian upstream oil and gas authority SKK Migas has extended for a third time the company?s appointment as the operator of Pase Block in Aceh for six months from August 24, 2014.

Triangle?s operatorship of the block was first extended for six months in August of 2013 to help ensure uninterrupted operation of the Pase field until the government finds definitive operator of the block as the Australian?s firm contract expired. Triangle, which has been operating the block since 2009, got the second six-month extension in February of 2014.

Triangle and Aceh government-owned company PDPA set up in July of last year a joint venture firm called Aceh Pace Global Energy Pte Ltd (APGE) to facilitate the transfer of the operatorship of the Pase block. Triangle owns 75 percent of APGE, while the remainder 25 percent is held by PDPA.

?Triangle continues to work with the Aceh Government to facilitate the award of the Pase PSC to Triangle and PDPA joint venture company, APGE,? Triangle said in a statement Monday.

Since 2009 Triangle has successfully operated and produced gas from the Pase field and continues to abide by all SKK Migas requirements to operate the PSC in a safe manner with zero incidents, it added.

Editing by Reiner Simanjuntak