Finder Energy has signed a drilling contract with the Japanese company ENEOS Drilling to provide the semi-submersible drilling rig Hakuryu-5 for the development of its oil field in Timor-Leste. This contract includes plans for drilling in the Kuda Tasi and Jahal (KTJ) project, which involves drilling three main development wells and an option to drill two additional wells.
Drilling Planning and Scheduling
The drilling program is set to begin on December 1, 2027, with an estimated duration of about 150 days, including drilling and completion of the wells for production. This operation will include the installation of completion equipment and wellheads to connect to the Petrojarl I floating production and storage unit.
Damon Newhouse, CEO of Finder Energy, considered this contract a significant milestone for the KTJ project that will aid in the scheduling of the drilling program. He added: "This also reflects the progress made towards the oil development of Timor-Leste."
Additional Services and Equipment
AGR will be responsible for integrated drilling management to support the planning, management, and execution of the development drilling program on behalf of Finder. Additionally, SLB will provide high completion equipment for the development wells, including downhole flow control valves, gauges, chemical injection equipment, and other necessities.
Finder Energy also announced that two optional drilling locations could allow other operators to conduct exploratory or appraisal drilling to identify potential opportunities. The final investment decision (FID) for this project is expected to be made by November 30.
The development of the Timor-Leste oil field is considered a strategic project for the country and is expected to contribute to increased oil production and job creation in the region. This project could serve as a model for other oil projects in the area and help attract further investments in the oil and gas industry.
Read more: The Russian Energy Week Forum kicks off in Moscow · Hamid Bord appointed as the caretaker of the Ministry of Oil
