How Finder Energy’s Ikan 3D Reprocessing Accelerates First Oil at Kuda Tasi and Jahal
Finder Energy has completed a landmark reprocessing of its Ikan 3D seismic data, delivering enhanced imaging that sharpens development plans for the Kuda Tasi and Jahal oil fields. This technical leap forward accelerates the path toward first oil and unlocks new exploration potential within the PSC 19-11 permit.
- Ikan 3D seismic data reprocessed ahead of schedule with superior imaging quality
- Updated mapping targets Kuda Tasi and Jahal fields holding 22 million barrels 2C contingent resources
- Enhanced data supports critical milestones: resource certification, economic modelling, and Field Development Plan
- Improved fault mapping reduces geological risks and aids re-evaluation of Krill and Squilla discoveries
- Project advances efforts to secure partners and funding, accelerating timeline to first oil
A Technical Milestone Achieved
Finder Energy Holdings Limited has announced the successful completion of its Ikan 3D seismic data reprocessing project, a critical step that promises to reshape the development trajectory of its key oil assets in the PSC 19-11 permit. Delivered in record time through a coordinated global effort, the project employed cutting-edge DUG McCloud technology via EIF Geosolutions to breathe new life into seismic data originally acquired nearly two decades ago.
The reprocessing has yielded seismic images of unprecedented clarity, particularly within the reservoir pay zones of the Laminaria and Plover formations. This leap in data quality resolves longstanding imaging challenges beneath complex fault structures and seabed reefs, enabling more precise fault mapping and reservoir characterization than ever before.
Sharper Focus on Kuda Tasi and Jahal
With the enhanced seismic data in hand, Finder has immediately turned its attention to the Kuda Tasi and Jahal oil fields, which collectively hold 22 million barrels of gross 2C contingent resources. The improved imaging is already informing updated geological interpretations and reservoir models, which are essential for optimising the placement of development wells. These efforts underpin the preparation of the Field Development Plan (FDP) and are pivotal to reaching the Final Investment Decision (FID) for the project.
By refining the subsurface picture, Finder aims to accelerate the timeline to first oil, a milestone that would mark the transition from exploration and appraisal to commercial production. The company’s technical director, Shane Westlake, highlighted the value of the project’s rapid delivery and the confidence it brings to ongoing development planning.
Unlocking Broader Potential Across the Permit
Beyond Kuda Tasi and Jahal, the new seismic data sets the stage for a comprehensive re-evaluation of other discoveries within the PSC, including the Krill and Squilla oil fields. These fields, along with multiple high-value exploration targets, represent a combined gross mean prospective resource potential of 116 million barrels. The enhanced fault imaging and improved understanding of trap integrity will be instrumental in de-risking these prospects ahead of future drilling campaigns.
Finder’s approach reflects a strategic balance between advancing near-term production goals and maintaining a robust exploration pipeline, which is vital for sustaining long-term value creation.
Next Steps Toward Commercialisation
The reprocessed Ikan 3D data feeds directly into several critical workstreams, including independent resource certification, production and economic modelling, and the finalisation of the FDP. These steps are essential prerequisites for securing industry partners and project funding, both of which are necessary to move the development forward.
While the announcement stops short of detailing capital expenditure or production guidance, the technical progress significantly de-risks the project and enhances Finder’s negotiating position with potential collaborators. The company’s CEO, Damon Neaves, and exploration manager, Aaron Bond, have underscored the importance of this milestone in accelerating the journey to first oil.
Bottom Line?
With seismic clarity now sharpened, Finder Energy is poised to turn data into barrels, but funding and partner commitments remain the next critical hurdles.
Questions in the middle?
- How soon can Finder secure industry partners and finalise project funding?
- What impact will the improved seismic data have on the timing and scale of the Final Investment Decision?
- To what extent will the re-evaluation of Krill and Squilla discoveries alter the overall resource portfolio?
