SYDNEY (Yosefardi) -Triangle Energy (Global) Limited and their joint venture partner, the Acehnese Government are pleased to announce they have been awarded the Pase Production Sharing Contract (PSC) extension.
SKK Migas confirmed the PSC has been extended from 24th February 2012, the date the original PSC expired. The period of the extension is 20 years.
The award of the PSC extension enables Triangle to execute its exploration program which has been suspended during the past 3 years while it was temporary operator of Pase.
Triangle looks forward to theopportunity to further demonstrate their proven success in exploration, development and operation of the Pase fields.
Indonesian President Joko Widodo’s recent initiatives to open the Indonesian economy, encouraging investment and promoting energy development has provided Triangle with a huge opportunity as an established oil and gas Operator within the country.