Timor-Leste's Finder Energy Kuda Tasi and Jahal Field Development Plan Approved, Total Resources of 25 Million Barrels

en.Wedoany.com Reported - Finder Energy announced that the National Petroleum Authority (ANP) of Timor-Leste has officially approved the field development plan for the Kuda Tasi and Jahal projects (KTJ Project) in Block PSC 19-11. This block is located within the Laminaria High oil province of Timor-Leste.

The development plan proposes a phased development scheme aimed at commercializing the oil and gas resources from these two offshore discoveries. Phase 1 of the project plans to redeploy the Petrojarl I FPSO for offshore processing, storage, and crude oil export, while constructing three subsea production wells, flexible flowlines and umbilicals, and a subsea production system. This infrastructure is designed with expansion capacity to support future discoveries and tiebacks within Block PSC 19-11.

This approval marks the completion of the technical assessment and development planning phase, providing a regulatory framework for the project. It allows the joint venture to advance to the Final Investment Decision (FID) and reduces project risk by confirming regulatory acceptance and validating the engineering and economic work completed during the Front-End Engineering Design (FEED) phase. Remaining work leading to FID includes completing project financing, signing drilling and other major project contracts, procuring long-lead items, and completing remaining environmental approvals. Key development approvals are now in place.

The Kuda Tasi and Jahal fields collectively hold 25 million barrels of total 2C contingent resources that have been discovered and fully appraised. Finder Energy is the operator of PSC 19-1, holding a 66% interest.