Finder Energy Secures $338M Boost as TIMOR GAP Expands Stake in KTJ Project
Finder Energy has finalized a farmin agreement with TIMOR GAP, increasing the latter’s stake in the PSC 19-11 project and unlocking significant funding to accelerate development.
- TIMOR GAP raises interest in PSC 19-11 from 24% to 34%
- TIMOR GAP to fund 50% of KTJ Project development capex up to US$338 million
- Finder Energy retains 66% interest and operatorship
- Agreement de-risks project and accelerates path to Final Investment Decision (FID)
- FID targeted for mid-2026 amid strong partnership momentum
A Strategic Partnership Strengthened
Finder Energy Holdings Limited has announced the completion of a pivotal farmin agreement with its joint venture partner, TIMOR GAP, the National Oil Company of Timor-Leste. This deal increases TIMOR GAP’s participating interest in the PSC 19-11 licence from 24% to 34%, marking a significant deepening of their collaboration on the KTJ Project.
The agreement is more than a simple shift in ownership percentages. TIMOR GAP’s commitment to fund half of the development capital expenditure; capped at US$338 million; provides Finder Energy with crucial financial backing. This injection of capital is designed to accelerate the Final Investment Decision (FID), a critical milestone that will determine the project’s progression to full-scale development.
De-risking and Funding Certainty
By securing TIMOR GAP’s increased stake and funding commitment, Finder Energy effectively de-risks the KTJ Project. The partnership ensures funding certainty, which is often a significant hurdle in large-scale energy developments. Finder retains a commanding 66% interest and operatorship, maintaining control over project execution while benefiting from the strengthened financial and strategic support of TIMOR GAP.
This arrangement reflects a broader trend in the energy sector where national oil companies and private operators collaborate closely to share risks and resources. For Finder, this means a more secure pathway to FID, targeted for mid-2026, and the ability to maintain momentum in a period of intense activity.
Looking Ahead
The timing of this announcement is notable as it comes amid a global energy landscape that remains volatile yet opportunistic. The KTJ Project’s advancement could position Finder Energy as a key player in the Timor-Leste region’s energy development. The farmin agreement not only strengthens the partnership but also signals confidence in the project’s viability and future returns.
Investors will be watching closely as Finder Energy navigates the next phases, including the accelerated FID process and subsequent development milestones. The collaboration with TIMOR GAP may serve as a blueprint for similar partnerships in the region, balancing national interests with commercial expertise.
Bottom Line?
With funding secured and partnerships solidified, Finder Energy is poised to turn momentum into tangible progress toward mid-2026 FID.
Questions in the middle?
- What specific conditions or milestones must be met to trigger the Final Investment Decision?
- How will the increased stake and funding from TIMOR GAP impact the project’s timeline and cost structure?
- What are the potential risks if market or regulatory conditions shift before FID?