Triangle eyeing ExxonMobil?s Aceh assets

Australia-listed oil, gas firm Triangle Energy Limited is considering possibility to acquire ExxonMobil?s upstream assets in Aceh that are currently being put on sale.

The company said that it was currently conducting due diligence on the assets.

Exxon Mobil has put on sale its assets in Aceh which includes 100 percent interest in NSO PSC which contains NSO fields and 100 percent interest in Arun PDSC, which contains Arun and SLS fields and 30 percent stake at Arun LNG plant.

A number of companies have expressed interest to submit bid for the assets which submission is slated in December.

Triangle is the operator of Pase PSC which was acquired from ExxonMobil several years back.

According to the company, Pase PSC, which is a mature field, has total annual production of 1.97 BCF, which is supplied to Arun LNG plant and being sold as LNG with third quarter gas price of almost US$18 per MMBTU.

Triangle is currently applying for 20-year extension for Pase PSC, which will expire in 2012. (alex).