Finder Energy has taken another step forward in preparing for the Kuda Tasi and Jahal (KTJ) offshore oil development in Timor-Leste, following the approval of its environmental impact assessment. This authorization allows the ASX-listed company to move forward with the remaining commercial, financial, and corporate requirements it must complete before making a final investment decision (FID). The approval, granted by the National Petroleum Authority (ANP), complements the field development plan (FDP), which had already received the green light. With both instruments now approved, the project has the key regulatory foundations the company identified to advance to the next stage of preparation.
Environmental approval defines the framework of the KTJ project
The environmental impact study establishes the conditions for the development, construction, installation, operation, and subsequent decommissioning phases of the KTJ project. It also includes environmental management and monitoring requirements throughout the project’s life cycle offshore development the assessment was prepared by MCC Sustainable Futures together with the Timorese consulting firm Halona Serena. The process included consultations with the ANP, government agencies, regulatory actors, local communities and interested public. According to Gualdino do Carmo da Silva, president of the ANP, the review included a public consultation phase and allowed the completion of the environmental assessment of the project, the authority indicated that the approval paves the way for the next stages of development, with the future extraction of the first oil among the project’s objectives.
Finder Energy is moving towards the FID of the KTJ project
From now on, Finder Energy will continue working with its joint venture partner and other stakeholders to resolve outstanding issues, including project agreements, joint venture-related processes, and debt financing, the final investment decision will therefore remain contingent upon the completion of these commercial and financial components. Environmental approval removes one of the core regulatory requirements, but further activities remain to be completed before Finder Energy can formalize the FID for the oil development in Timor-Leste. Damon Neaves, CEO of Finder Energy, noted that the environmental authorization complements the already approved FDP and establishes the key regulatory foundation for the project, the company will continue working with its partners to complete the remaining commercial and financial activities.
The FPSO Petrojarl I is part of the development plan
In parallel, Finder Energy secured the Petrojarl I FPSO for the KTJ project in December 2025, this vessel is part of the planned development of the offshore oil field in Southeast Asia. With this component now secured, the immediate focus is on finalizing the project’s commercial and financial structure, the Investment Development Fund (IDF) will be the forum where Finder Energy and its partners will determine whether to authorize the necessary investment to carry out the development.
The combination of the approved FDP, the authorized environmental study, and the FPSO the newly hired consultant leaves the KTJ project with a significant portion of its regulatory and operational readiness underway, the next steps will focus on finalizing agreements and securing the necessary funding before the company can make its final investment decision.
Source: Offshore Energy
Photo: Shutterstock
