Finder Energy, an Australian energy company, has entered a new phase of its development by hiring a semisubmersible rig to carry out the drilling program for three wells in the Kuda Tasi and Jahal (KTJ) project off the coast of East Timor. This contract includes the drilling of three firm wells and an option for two additional wells, which are planned to be drilled using the Hakuryu-5 rig starting in December 2027.
Drilling Contract Details
With this contract, Finder Energy has increased its confidence regarding the timing of the development drilling and is currently working on the final investment decision (FID). The company aims to achieve FID by November 30, 2026. Previous advancements include the approval of the field development plan, development area, and environmental impact statement. Currently, the company is also progressing on contracts related to the EPCI scope and FPSO construction workshop.
The Role of FPSO in the Project
In 2025, Finder Energy acquired the FPSO unit named Petrojarl I for this project. This unit will serve as the production hub for Kuda Tasi and Jahal, and the development design allows for nearby resources to be connected to this hub in the future. This approach enables Finder Energy to optimize the use of existing resources.
According to Damon Neaves, CEO of Finder Energy, securing the drilling rig helps the company pursue its development plans with greater confidence. Given the progress made, Finder Energy hopes to achieve its investment goals and advance future projects to execution.
