Finder Energy Holdings has announced that Autoridade Nacional do Petróleo (ANP) has approved the Development Area over the Kuda Tasi and Jahal Oil Fields (KTJ Project).
This 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.
The KTJ Project currently comprises 25 MMbbl gross 2C Contingent Resources(1) , with identified upside including an additional 23 MMbbl gross 2C Contingent Resources(1,2 )and 116 MMbbl gross 2U Prospective Resources(1,2), supporting a material growth pathway beyond the initial development.
Damon Neaves, CEO, said: 'With long-term tenure secured for the Kuda Tasi and Jahal development, we are now focused on establishing a scaleable 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. We look forward to continuing our strong collaboration with TIMOR GAP and the TimorLeste regulatory authorities as we advance toward project sanction.'
DEVELOPMENT AREA
Approval of the Development Area is an important milestone and 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 as shown in Figure 1. 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.
On approval of the FDP, the Development Area secures tenure for up to 25 years or until production ceases. It allows the Company to conduct the development and production operations within the area, 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.
UPSIDE STRATEGY
The upside strategy centres on the potential for the Petrojarl I FPSO to form a central processing and export point for future tie-backs of surrounding discoveries, contingent on successful appraisal and/or exploration activities within PSC 19-11 (Figure 2).
Alternatively, longer tie-back distances may be accommodated by pursuing a secondary standalone development in the south of the PSC.
This strategy has the potential to materially enhance the scale and longevity of production operations, delivering increased project value alongside broader economic and social benefits, including increased State revenues, local job creation and local supply chain participation.
The upside opportunities offer material incremental resource potential to the KTJ Development Project. The identified upside includes an additional 23 MMbbl gross combined 2C Contingent Resources1,2 and 116 MMbbl 2U gross combined Prospective Resources1,2 (Figure 2).
Finder is progressing its technical evaluation of the appraisal and exploration opportunities in order to generate a ranked portfolio of drilling targets which will inform the forward strategy to unlock the additional value in PSC 19-11.
Source: Finder Energy
