Finder Energy has achieved key milestones in the development of its oil field project in Timor-Leste by obtaining the necessary Environmental Impact Assessment (EIS) license. This license, issued by the Autoridade Nacional do Petróleo (ANP), is considered a significant milestone in the licensing and development process of the Kuda Tasi and Jahal (KTJ) oil field.
Project Progress Stages
The receipt of this license, along with the previously approved Field Development Plan (FDP), provides essential legal foundations for advancing the project and reducing its risks. Finder Energy emphasizes that this environmental framework addresses the development, construction, installation, operation, and ultimately decommissioning of KTJ, along with the environmental management and monitoring needs throughout the project lifecycle.
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Collaboration with Local and Government Entities
According to the company, the environmental impact assessment was conducted in consultation with the ANP, government and legal stakeholders, local communities, and the general public. This assessment was prepared in collaboration with the environmental consultancy firm MCC Sustainable Futures and the Timor-Leste consultancy group Halona Serena.
Damon Neaves, CEO of Finder Energy, stated: "Obtaining the EIS license is a significant milestone and another step in reducing the risks of the KTJ project. With both the FDP and EIS approved, essential legal foundations for development are now in place."
With this important regulatory milestone achieved, the KTJ development project can proceed to the next stages of development. The ANP hopes to continue its collaboration with the operator and JV partners to ensure timely project execution and the achievement of first oil, benefiting all stakeholders.
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