KTJ Project Acceleration Brings Funding and Execution Risks into Focus for Finder Energy
Finder Energy has fast-tracked its Kuda Tasi and Jahal (KTJ) oil field development in Timor-Leste through a strategic alliance with SLB, advancing key engineering design by 12 months and targeting a final investment decision in 2026. The company also strengthened its financial position with a $6 million placement, supporting ongoing exploration and development activities across its diverse portfolio.
- Strategic alliance with SLB accelerates KTJ Project FEED by approximately 12 months
- Targeting Final Investment Decision (FID) for KTJ Project in 2026
- Completion of Ikan 3D seismic data reprocessing enhances reservoir understanding
- Raised $6 million via placement, boosting cash reserves to an estimated $9.8 million
- Active farmout efforts in UK North Sea and North West Shelf Australia amid challenging markets
Strategic Partnership Accelerates Development
Finder Energy Holdings Limited has announced a significant step forward in the development of its Kuda Tasi and Jahal (KTJ) oil fields in Timor-Leste. The company entered into a strategic alliance with global energy technology leader SLB, which is set to accelerate the front-end engineering and design (FEED) phase of the KTJ Project by approximately 12 months. This acceleration is a critical milestone, bringing the project closer to its goal of First Oil and positioning Finder to make a Final Investment Decision (FID) in 2026.
The SLB alliance integrates technical and project management expertise across subsurface, well construction, and subsea engineering disciplines. This collaboration not only expedites key drilling and subsea FEED components but also de-risks project execution by leveraging SLB’s extensive resources and capabilities.
Enhanced Subsurface Insights from Seismic Reprocessing
Complementing the accelerated engineering timeline, Finder completed the reprocessing of the Ikan 3D seismic survey in May 2025. Utilizing advanced seismic imaging technologies such as broadband de-ghosting and full waveform inversion, the reprocessed data has provided enhanced clarity of the subsurface structures. Interpretation efforts are focused on refining reservoir models for Kuda Tasi and Jahal, which will underpin updated production forecasts and resource certification scheduled for completion by the end of 2025.
This improved geological understanding supports the company’s strategy to optimise well placement and development economics, critical factors as Finder advances towards the Field Development Plan (FDP) and FID.
Robust Financial Position Supports Growth
Financially, Finder strengthened its position by successfully raising $6 million through a placement in July 2025. With the settlement of tranche 1 completed and tranche 2 expected post an Extraordinary General Meeting in August, the company anticipates cash on hand to reach approximately $9.8 million. This liquidity provides a solid foundation to support ongoing FEED activities, negotiations for Floating Production Storage and Offloading (FPSO) units, rig contracts, and funding arrangements essential for the KTJ Project’s progression.
Expanding Exploration and Farmout Efforts
Beyond Timor-Leste, Finder maintains a diversified portfolio with active exploration and appraisal projects in the UK North Sea and Australia’s North West Shelf. Despite challenging political and investment climates, particularly in the UK, Finder continues to pursue farmout opportunities to secure development partners and funding. The company’s Infrastructure-Led Exploration (ILX) strategy in the UK aims to capitalise on existing production infrastructure to de-risk prospects and attract partners.
In Australia, Finder is advancing technical studies and regulatory applications to preserve its acreage and position itself for a potential resurgence in exploration activity. These efforts underscore Finder’s commitment to long-term value creation across multiple basins.
Looking Ahead
With the KTJ Project’s FEED acceleration and a strengthened balance sheet, Finder Energy is well placed to navigate the critical phases leading to FID and First Oil. The company’s ongoing technical work, strategic partnerships, and capital raising efforts collectively enhance its prospects in a competitive and evolving energy landscape.
Bottom Line?
Finder’s accelerated KTJ development and solid funding set the stage for pivotal decisions in 2026, but execution risks and market conditions remain key watchpoints.
Questions in the middle?
- Will Finder secure the necessary FPSO and rig contracts in time to meet the accelerated FEED schedule?
- How will evolving political and investment climates in the UK and Australia impact Finder’s farmout success?
- What are the potential implications if regulatory approvals for key permits in Australia and the UK are delayed or denied?
