Finder Energy has received approval for its field development plan (FDP) covering the Kuda Tasi and Jahal (KTJ) offshore oil project from Timor-Leste’s petroleum regulator, the Autoridade Nacional do Petróleo (ANP).
The approval marks a key regulatory step for progressing the development and enables Finder Energy and its joint venture partners to move towards a final investment decision, which is expected in the current quarter.
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The KTJ development is set to be the first offshore oilfield advanced under Timor-Leste’s sovereign petroleum regime.
The FDP lays out a phased approach, with initial development centred around three production wells, two at the Kuda Tasi field and one at Jahal. The wells will be tied back to the redeployed Petrojarl I floating production, storage and offloading (FPSO) vessel.
The plan includes associated subsea infrastructure, flexible flowlines and umbilicals, supporting offshore processing, storage and crude export.
The facilities have been designed for potential future expansion, aiming to accommodate additional discoveries and tie-backs within production sharing contract PSC 19-11.
According to Finder Energy, regulatory acceptance of the development concept validates previous technical, engineering and commercial assessments.
It also supports key commercial negotiations and debt financing activities linked to project delivery.
Workstreams for project financing, contract awards, procurement of long-lead equipment and outstanding environmental approvals are under way in tandem to meet the project’s accelerated schedule, which targets first oil in late 2027 or early 2028.
Finder Energy assumed operatorship of the project in August 2024 and has since advanced the project through key phases. These include comprehensive subsurface studies, front-end engineering design, the Petrojarl I FPSO acquisition and environmental work preceding the FDP approval.
Finder Energy CEO Damon Neaves said: “Approval of the field development plan is a defining milestone for Finder and the culmination of almost two years of technical, commercial and regulatory work.
“The KTJ Project has progressed from stranded discoveries to an approved offshore development in an exceptionally short period, reflecting the strong collaboration between Finder, TIMOR GAP, ANP, our contractors and the Government of Timor-Leste.
“This approval substantially de-risks the project, providing a clear pathway to complete project financing and progress towards final investment decision.”
In April 2026, Finder Energy announced the mobilisation of “significant resources” to fast-track the timeline of the KTJ project.
