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Triangle Energy signs joint venture with Aceh government


Published Jul 31, 2013
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Triangle Energy (Global) Limited

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 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, Dr Zaini Abdullah.

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