Triangle shortlisted as preferred partner in Pase

By Romel S. Gurky

Aceh governor has established a new team of independent advisers with the purpose of selecting the most qualified operator for Pase PSC in the province, with Triangle Energy already listed as the preferred partner.

The Pase block is currently operated by Perth-based Triangle Energy, whose contract over the block will expire in February of 2013.

?The process is advancing and near finalization with Triangle the most qualified partner short-listed as their preferred partner,? a statement from Triangle said.

The team of advisors has been working to seek qualified operators to partner with them to operate the Pase field under a new PSC for 30 years.

The statement also revealed that Pase?s production during the fourth quarter of 2012 totaled 161.7 mmcf from three wells, A-1, A-5 and A-6.

Triangle said it continued maturing in-fill drilling opportunities to access up-dip gas adjacent to existing producing wells to study the feasibility of sidetracks and new drills.

Editing by Dadan Wijaksana