Finance & Investing
News Services
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy


Triangle Energy to Form JV for Pase PSC in Aceh

change text size

Australia's Triangle Energy (Global) Limited planned to incorporate a joint venture company, Aceh Pase Global Energy Pte. Ltd. (APGE), with the Aceh Government owned firm Perusahaan Daerah Pembangunan Aceh (PDPA) to facilitate the award of the Pase Production Sharing Contract (PSC) in Aceh Province, North Sumatra, Indonesia.

APGE will be a Singapore incorporated company, with Triangle Energy and PDPA holding 75 percent and 25 percent interest, respectively. The joint venture firm will work with the Aceh Government to facilitate the award of the Pase PSC by Indonesian oil and gas regulator SKKMigas.

"Triangle will be the first foreign company to form a Joint Venture with the Acehnese Government to manage an oil and gas field and we look forward to working closely with PDPA," Triangle Executive Chairman JohnTowner said in a press release.

"Triangle has been successfully operating the Pase Field since 2009 and will continue to act as operator of Pase until finalization of a new PSC. Once the application to SKKMigas is processed and the new 30 year PSC is awarded, the APGE Joint Venture will take responsibility for the operation of the block."

The current PSC for the Pase Block, which covers an area of 356 square miles, expired in February 2012. SKKMigas appointed Triangle Energy as operator until a new PSC is negotiated. Triangle Energy had purchased the Pase PSC from ExxonMobil in December 2009.

Cheang has covered the upstream and downstream sectors of the oil and gas industry for over a decade. Email Cheang at


Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
 Company: Triangle Energy (Global) Limitedmore info
 - Triangle Energy to Form JV for Pase PSC in Aceh (Jul 31)

More from this Author
Cheang Chee Yew
APAC Editor |
 -  Singapore's SMEs Brace for Challenges ... (Sep 30)
 -  Indonesia Likely to Decide on Mahakam ... (Sep 25)
 -  SKKMigas Expects Banyu Urip Field to C... (Sep 22)
 -  Malaysia's Special Purpose Acquisition... (Sep 17)
 -  China's CBM Sector Gets Lift from High... (Sep 11)
Most Popular Articles
From the Career Center
Jobs that may interest you
New Business Account Manager
Expertise: Business Development, Sales and Marketing
Location: Perth
Director / Manager - NGL Business Development
Expertise: Business Development, Executive
Location: Houston, TX
Asset Manager / Vice President Production - Thai Assets
Expertise: E&P Asset Manager, Production Engineering
Location: Bangkok Province
search for more jobs