Triangle Energy (ASX: TEG) has been selected as the Aceh provincial government’s operating partner for the Pase production sharing contract that had produced 161.7 million cubic feet of gas in the December 2012 quarter.
The Aceh Government will now formalise the process with the Indonesian Central Government.
Triangle’s selection as the most qualified partner by the committee of Acehnese industry experts comes after a seven-month tender process.
It has been actively continuing to mature infill drilling opportunities to access updip gas adjacent to existing producing wells to study feasibility of sidetracks and new wells.
Triangle is also acquiring raw seismic data that was transferred to the government agency from ExxonMobil covering an area of the Pase PSC for which it did not hold any data previously.
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