Finder Energy secures approval for three wells
- Finder Energy received regulatory approval for its field development plan covering the Kuda Tasi and Jahal fields.
- The company's stock price closed unchanged at $0.35 following the announcement of this project milestone.
- The regulatory approval is intended to clear the pathway towards a final investment decision in the current quarter.
Finder Energy (ASX:FDR) has secured formal approval from the Autoridade Nacional do Petróleo for its field development plan covering the Kuda Tasi and Jahal oilfields, allowing the company to progress towards a final investment decision for the offshore project.
The regulatory milestone follows the company's acquisition of the Petrojarl I floating production, storage and offloading vessel in late 2025 to serve as the core infrastructure hub for the region.
"The KTJ Project continues to build momentum as we advance towards FID, with significant progress across regulatory, technical, financing and execution workstreams," said Finder Energy CEO Damon Neaves.
The initial phase of the development targets production through three subsea wells targeting best-estimate contingent resources of 25 million barrels of oil.
Following the announcement, the Finder Energy share price was unchanged at $0.35.
The company holds a 66% operating interest in production sharing contract 19-11 alongside its joint venture partner, TIMOR GAP.
The broader asset portfolio contains an additional 23 million barrels of contingent resources in the nearby Krill and Squilla fields to support future tie-back operations.
