Boustead-led tie-up to acquire energy asset in Indonesia

Singapore

BOUSTEAD, together with One North Energy Private and Lamara Energy, has entered into an agreement with ASX-listed Triangle Energy (Global) to acquire TEG's 100 per cent stake in the Pase Production Sharing Contract (PSC) in Aceh, Sumatra, for US$3.9 million.

The contract includes other potential purchase considerations which depend on the performance of the Pase PSC. In a separate release to the ASX, Triangle Energy said the proposal acquisition amount could be worth up to US$32.4 million in total.