Triangle retained as temporary operator of Pase block

By Romel S. Gurky

ASX-listed Triangle Energy (Global) Ltd announced Monday that the upstream oil and gas authority SKK Migas has extended the company?s appointment as the operator of the Pase block in Aceh for another six months from February 24, 2014.

In August of last year, Triangle?s operatorship of the block was temporarily extended for six months to help ensure uninterrupted operation of the Pase field as the authority finds a definitive operator. Triangle has been operating the block since 2009.

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.

Editing by Reiner Simanjuntak