Triangle: Production at Pase PSC reaches 82.2 MMcf
Monday, February 3 2014 - 04:11 AM WIB
ASX-listed Triangle Energy Ltd said that gas production from three wells A-1, A-5, and A-6 in the Pase PSC, Aceh, during the December quarter totaled 82.2 MMcf, slightly lower than 82.8 MMcf in the September quarter.
The company said in a fourth quarter report published on Friday that gross PSC revenue on production for the quarter reached US$1.71 million, including lifting of condensate.
?During the quarter the Company continued technical studies over the Pase Field with the intent of maturing in-fill drilling opportunities to access up-dip gas adjacent to existing producing wells,? it added.
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.
Triangle has operated and produced gas from the Pase field since 2009. 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