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Finder Energy (ASX:FDR) has received a key approval as it fast-tracks its Timor-Leste oil project production hub strategy, with Timor-Leste’s national petroleum authority, Autoridade Nacional do Petróleo, giving the petroleum junior the green light to utilise a development area over the Kuda Tasi and Jahal oil fields.
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Finder’s CEO, Damon Neaves, said the approval represents a key regulatory milestone, paving the way to secure long-term tenure and enabling progression toward development and project sanction. It also underpins Finder’s strategy to establish a scalable production hub centred on the Petrojarl I FPSO, providing a platform to commercialise multiple upside opportunities within PSC 19-11.
“With long-term tenure secured for the Kuda Tasi and Jahal development, we are now focused on establishing a scalable production hub around the Petrojarl I FPSO, creating a capital-efficient platform to commercialise multiple oil fields and unlock significant value across the broader PSC 19-11 portfolio,” he said.
“We look forward to continuing our strong collaboration with TIMOR GAP and the Timor- Leste regulatory authorities as we advance toward project sanction.”
Finder Energy entered into the conditional sale agreements with Eni International and Inpex to acquire a 76% interest in, and operatorship of the undeveloped offshore Timor-Leste Kuda Tasi and Jahal oil fields in August CY24.
Since then, it’s moved rapidly to bring the fields towards production, including the recent acquisition of the Petrojarl I floating production, storage and offloading (FPSO) vessel.
Mr Neaves said the development area go-ahead represents the first stage of the regulatory approvals process for the KTJ project.
The development area covers approximately 88 square kilometres and encompasses the Kuda Tasi and Jahal oil fields and the proposed location for the production infrastructure.
“The declaration of the development area is the precursor to the field development plan (FDP), which is currently under preparation and is scheduled to be submitted to ANP in Q2 2026,” Mr Neaves explained today.
On approval of the FDP, the area secures tenure for up to 25 years or until production ceases, allowing the company to conduct development and production (subject to applicable regulatory approvals and conditions).
“The development area provides Finder with long-term tenure and regulatory certainty to progress final approvals, financing and final investment decision (FID) for the KTJ project,” Mr Neaves said.
KTJ is currently estimated to contain between 25 and 116 million barrels of oil.
FDR is steady at 57c today.
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