Latest Offshore Development News

Finder Energy has shifted decisively from exploration towards development, with its Timor-Leste oil project backed by independent reserves, an acquired FPSO and expanded TIMOR GAP funding. The transition came at a steep cost, however, with a $30.0 million annual loss and Final Investment Decision still ahead.

ADX Energy has lodged a third exploration permit application offshore Italy, expanding its Sicily Channel gas play footprint to around 1650 km2 amid encouraging geological assessments.

Finder Energy’s KTJ offshore development in Timor-Leste has achieved a key milestone with an independent classification of 22.2 million barrels of 2P reserves, underpinning its push toward a Final Investment Decision.

Karoon Energy's Who Dat East Joint Venture has given the green light to develop the Who Dat East field in the Gulf of America, aiming for production start in the second half of 2028 with attractive economics.

Finder Energy has secured key regulatory approval for its KTJ Project in Timor-Leste and raised $27 million to advance development, positioning for a Final Investment Decision in Q3 2026.

Condor Energy has completed a pivotal feasibility study for its Piedra Redonda gas discovery offshore Peru, confirming a conventional development approach and underpinning ongoing commercial and financing efforts.

Finder Energy is fast-tracking its Kuda Tasi & Jahal offshore development in Timor-Leste, aiming for first oil by late 2027 or early 2028 with strong production forecasts and secured funding.

Finder Energy has secured regulatory approval for its Kuda Tasi and Jahal offshore development in Timor-Leste, significantly advancing the project towards a final investment decision and first oil by 2028.

Praemium plans a staged rollout of its new core technology platform this year, following the integration of Technotia Laboratories. The company has restructured its tech team to cut costs and revised incentive payments for two founding Technotia principals transitioning to consulting roles.

Finder Energy has successfully completed the Front-End Engineering Design for its Kuda Tasi and Jahal subsea development, setting the stage for a Final Investment Decision by mid-2026.

Finder Energy is rapidly advancing its KTJ oil development project with the strategic acquisition of the Petrojarl I FPSO and key partnerships, targeting a Final Investment Decision by mid-2026.

Finder Energy’s Kuda Tasi and Jahal oil development project in Timor-Leste received strong government endorsement and an independent resource upgrade, accelerating its path to first oil by 2027.