Sunda Energy, Finder sign LoI to jointly secure Timor-Leste rig

Sunda Energy and Finder Energy, done their respective subsidiaries, person signed a non-binding missive of intent (LoI) to jointly unafraid a drilling rig for their abstracted offshore projects successful Timor-Leste.

The subsidiaries, SundaGas Banda Unipessoal and Finder Timor-Leste, mean to behaviour combined drilling operations, aiming to streamline the process and trim costs by sharing resources specified arsenic drilling rigs and materials.

Under the presumption of the LoI, SundaGas and Finder program to prosecute a suitable semi-submersible rig susceptible of operating astatine some companies’ good locations. They besides mean to collaborate connected task management, procurement of indispensable services, logistics and planning.

Finder Timor-Leste is the relation of the Kuda Tasi and Jahal (KTJ) fields successful concern with Timor Gap.

SundaGas Banda Unipessoal operates the TL-SO-19-16 accumulation sharing declaration (PSC), which includes the Chuditch state tract wherever the Chuditch-2 appraisal good is planned.

Finder expects to statesman drilling astatine slightest 3 wells arsenic portion of its KTJ improvement programme earlier making a last concern determination (FID) by mid-2026.

The Chuditch-2 well, initially scheduled for the 2nd 4th of 2026 (Q2 2026), volition beryllium rescheduled to align with Finder’s campaign. Drilling is present expected to statesman arsenic aboriginal arsenic imaginable successful 2027, taxable to rig availability.

Both companies stated that rig-sharing addresses erstwhile difficulties successful securing a rig, peculiarly for shorter-duration projects similar Chuditch-2, which unsocial requires astir 35–40 days.

Combining some companies’ drilling campaigns extends operational duration to astir 200 days, which the parties judge offers a much favourable proposition for contractors.

Minor method adjustments to the engineering plan of the Chuditch-2 good volition beryllium undertaken to accommodate the shared rig concept.

Sunda Energy and Finder person opened discussions connected elaborate task absorption and logistics. Finder is advancing efforts to unafraid the indispensable benignant of semi-submersible rig for operations astatine some locations, which alteration successful h2o depth.

SundaGas has asked upstream regulator Autoridade Nacional bash Petróleo (ANP) for a declaration hold for the TL-SO-19-16 PSC, which presently expires connected 18 June 2026.

ANP is considering the petition successful airy of the amended operational plans.

Sunda Energy CEO Andy Butler said: “I americium delighted with the plans agreed with Finder to align our planned drilling activities with their KTJ improvement project. This collaborative inaugural would make galore imaginable synergies and assistance some parties efficaciously execute their respective operational goals.