ASX-listed oil and gas exploration player Finder Energy has secured the environmental go-ahead needed to proceed with putting in place the remaining requirements for the development of its offshore oil field in Timor-Leste, paving the way for a final investment decision to be taken on the Southeast Asian hydrocarbon project.
Finder Energy has described the approval of the environmental impact statement (EIS) for the Kuda Tasi and Jahal (KTJ) development project, which was granted by the Autoridade Nacional do Petróleo (ANP), as a major regulatory milestone and the principal environmental approval required for the development of KTJ.
This achievement, combined with the previously approved field development plan (FDP), establishes the key regulatory foundations for the project’s development, de-risking it further as it advances toward a final investment decision.
The company emphasizes that the resulting environmental framework addresses development, construction, installation, operation, and eventual decommissioning of KTJ, together with environmental management and monitoring requirements throughout the project lifecycle.
According to the ASX-listed firm, the EIS, developed in consultation with ANP, relevant government and regulatory stakeholders, local communities, and the broader public, followed a comprehensive assessment prepared by specialist environmental consultancy MCC Sustainable Futures in partnership with Timor-Leste advisory group Halona Serena.
Gualdino do Carmo da Silva, President of the ANP, commented: “The ANP commends the collaboration between the operator and its joint venture partners throughout the EIS review process, including the public consultation phase. This collaborative effort enabled the ANP to successfully complete its assessment and approve the EIS for the KTJ development project.
“With this important regulatory milestone now achieved, the KTJ development project can progress towards the next stages of development. The ANP looks forward to continued collaboration with the operator and its JV partners to support the timely execution of the project and the achievement of first oil, for the benefit of all stakeholders.”
Since the FDP and EIS have now been approved, Finder has confirmed that it will continue to advance joint venture processes, project agreements, and debt financing as it prepares KTJ for the next phase of development. The company secured the FPSO Petrojarl I in December 2025 for the project.
Damon Neaves, CEO of Finder, highlighted: “Approval of the EIS is a major milestone and represents another important step in de-risking the KTJ project. With both the FDP and EIS now approved, the key regulatory foundations for development are in place.
“We continue to work with our joint venture partner and other stakeholders to complete the remaining commercial and financial activities to achieve FID.”