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Triangle to retain operatorship of Aceh block until 2034

25th November 2014

The Indonesian Energy and Mineral Resources Ministry (ESDM) has announced a decision on the contract status of the Pase Production Sharing contract (PSC) that makes Triange Energy operator of the block for a further 20 years

Triangle to retain operatorship of Aceh block until 2034
Picture Courtesy: Triangle Energy

On Friday, the minister of energy and mineral resources, Sudirman Said, confirmed that the Pase oil and gas block in Aceh is to be managed by Triangle Energy’s joint venture partner PT Perusahaan Daerah Aceh Development (PDPA), a company owned by the Aceh local government.

Triangle will be appointed operator of the block for a further 20 years.

In mid-2012, a committee of Acehnese industry experts were appointed to carry out a tender process to seek the most qualified partner to operate the PSC with the Acehnese government. In February 2013, the Aceh Government selected Triangle to partner with them to operate and develop the Pase Block.

In August 2013, Triangle and PDPA agreed on terms and incorporated a Singapore joint venture company, Aceh Pase Global Energy Pte Ltd (APGE), 75 per cent owned by Triangle and 25 per cent by PDPA.

Triangle is the first foreign company to form a JV with the Acehnese government to operate an oil and gas field.

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