Project Profile
Value: Undisclosed
Location: Aceh province, North Sumatra, Indonesia
Area: 922 square kilometres
Reserves: 498 bcf of gas in place
Production: 183 bcf of gas (cumulative production till 2013)
Depth: unknown
Start-up Year: 2011
The Pase Production Sharing Contract is located in the Aceh province, North Sumatra in Indonesia and encompasses an area of 922 square kilometres. The field was initially discovered in 1983 by ExxonMobil who was the operator before Triangle Energy (Global) Limited farmed in. The initial reserves estimation showed reserves in the level of 498 bcf of gas in place. Triangle Energy (Global) Limited has agreed on terms with the Aceh Government owned company Perusahaan Daerah Pembangunan Aceh (PDPA) and will incorporate a joint venture company, Aceh Pase Global Energy Pte. Ltd. (APGE). The signing of this Joint Venture is significant and creates a precedent in Indonesia. Triangle is the first oil and gas company to partner with Aceh under the 2005 Helsinki Memorandum of Understanding. APGE will be a Singapore incorporated company 75% owned by Triangle Energy and 25% by PDPA. The company will work together with the Aceh Government to facilitate the award of the Pase PSC via the Indonesian Ministry of Energy and Mineral Resources\' agency MIGAS. The Joint Venture will be operated by Triangle and has the full support of the Governor of Aceh. Current production from the field stems from three wells Pase A5, Pase A6 and Pase A1. Cumulative production to date is 183 bcf.
Operators:
Aceh Pase Global Energy Pte. Ltd. (APGE)
Triangle Energy (Global) Limited: Operator with 75% interest
Perusahaan Daerah Pembangunan Aceh (PDPA): 25% interest