Finder Energy receives FDP for Kuda Tasi and Jahal Project
Key Highlights
- The FDP approval confirms regulatory acceptance of the development concept.
- The phased development includes redeploying the Petrojarl I FPSO, three subsea wells, and infrastructure designed for future expansion within PSC 19-11.
- This milestone positions the KTJ Project for long-term production, with infrastructure capable of supporting additional discoveries and tie-back opportunities.
Finder Energy Holdings Ltd. has received approval from Autoridade Nacional do Petróleo (ANP) for the Field Development Plan (FDP) for the Kuda Tasi and Jahal Project (KTJ Project) in PSC 19-11 within the Laminaria High oil province of Timor-Leste.
The FDP outlines a phased development which will commercialize the Kuda Tasi and Jahal discoveries offshore the Southeast Asian nation. Phase 1 of the KTJ Project comprises redevelopment of the Petrojarl I FPSO to enable offshore processing, storage and crude export infrastructure, three subsea production wells, flexible flowlines and umbilicals, and a subsea production system.
The infrastructure has been designed with expansion capacity to support future discoveries and tie-back opportunities within PSC 19-11.
The approval marks the completion of the technical evaluation and development planning phase and provides the regulatory framework for field development, enables the joint venture to progress to final investment decision (FID), and de-risks the project by confirming regulatory acceptance and validating engineering and economic work completed during the FEED.
Remaining work toward FID includes completion of project financing, execution of drilling and other major project contracts, procurement of long-lead equipment, and completion of the remaining environmental approvals. With the principal development approval now in place.
Kuda Tasi and Jahal oil fields have combined 25 million bbl gross 2C contingent resources discovered and fully appraised.
Finder Energy is operator (66%) of PSC 19-1.
