Highlights:
- Approval of the Environmental Impact Statement secures the principal environmental authorisation needed to progress to the next stage of the KTJ Project development
- Together with the approved Field Development Plan, the environmental approval establishes the key regulatory foundations for development and further de-risks the Project
- Approval follows extensive regulatory, stakeholder and public consultation and establishes the environmental framework to govern development, construction and operations
Finder Energy Holdings has announced that the Autoridade Nacional do Petróleo (ANP) has approved the Environmental Impact Statement (EIS) for the Kuda Tasi and Jahal Development (KTJ Project).
ANP approval of the EIS represents a major regulatory milestone, securing the principal environmental approval required for development of KTJ. Together with the previously approved Field Development Plan (FDP), it establishes the key regulatory foundations for development as the Project advances towards Final Investment Decision (FID).
The resulting environmental framework addresses development, construction, installation, operation and eventual decommissioning of KTJ, together with environmental management and monitoring requirements throughout the KTJ Project lifecycle.
The EIS followed a comprehensive assessment prepared by specialist environmental consultancy MCC Sustainable Futures in partnership with Timor-Leste advisory group Halona Serena. It was developed in consultation with ANP, relevant government and regulatory stakeholders, local communities and the broader public. This collaborative approach provides an important foundation for the Project’s ongoing social licence in Timor-Leste.
Gualdino do Carmo da Silva, President of the ANP, said: 'The ANP commends the collaboration between the operator and its Joint Venture partners throughout the EIS review process, including the public consultation phase. This collaborative effort enabled the ANP to successfully complete its assessment and approve the EIS for the KTJ Development Project. With this important regulatory milestone now achieved, the KTJ Development Project can progress towards the next stages of development. The ANP looks forward to continued collaboration with the operator and its JV partners to support the timely execution of the project and the achievement of First Oil, for the benefit of all stakeholders.'
Damon Neaves, CEO of Finder, said: 'Approval of the EIS is a major milestone and represents another important step in de-risking the KTJ Project. With both the FDP and EIS now approved, the key regulatory foundations for development are in place. We continue to work with our joint venture partner and other stakeholders to complete the remaining commercial and financial activities to achieve FID.'
With the FDP and EIS now approved, Finder continues to advance joint venture processes, project agreements and debt financing as it prepares KTJ for the next phase of development.
Source: Finder Energy
