--- title: "Finder Energy Advancing to FID after Securing KTJ Project Development Area Approval" type: "News" locale: "en" url: "https://longbridge.com/en/news/280700335.md" description: "Finder Energy has received approval for the KTJ Project Development Area from the Autoridade Nacional do Petróleo (ANP), marking a key regulatory milestone. This approval is essential for advancing financing and the Final Investment Decision (FID), targeted for mid-2026, with first oil expected in late 2027. The project includes significant resources and aims to leverage the Petrojarl I FPSO for production. Ongoing engineering and funding efforts are crucial for the project's success, while risks such as cost uncertainty and engineering constraints remain." datetime: "2026-03-26T23:36:44.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280700335.md) - [en](https://longbridge.com/en/news/280700335.md) - [zh-HK](https://longbridge.com/zh-HK/news/280700335.md) --- # Finder Energy Advancing to FID after Securing KTJ Project Development Area Approval Finder Energy has achieved a significant regulatory milestone with the approval of the \*\*KTJ Project Development Area \*\*by the Autoridade Nacional do Petróleo (ANP). This, alongside ongoing engineering and funding advancements, brings the **KTJ Project**, which covers the **Kuda Tasi** and **Jahal** oil fields, closer to production. It is the first stage of regulatory approvals, acting as a precursor to the Field Development Plan (**FDP**), scheduled to be submitted to ANP in **Q2 2026**. Upon approval of the **FDP**, the Development Area secures tenure for up to **25 years** or until production ceases. The **88 square kilometre** development area provides regulatory certainty essential for advancing financing and the Final Investment Decision (**FID**) for the **KTJ Project**. **FPSO Engineering Confirms Feasibility** Phase 1 engineering studies have confirmed the technical feasibility of redeploying the **Petrojarl I FPSO** (**PJI**) to the **KTJ Project**. The studies supported targeted production rates of approximately **25,000 barrels of oil per day (bopd)** across multiple modeled operating scenarios. A key identified upgrade is the need for a produced water treatment system, with the core separation and processing systems largely deemed fit for purpose. Environmental and permitting pathways have been defined, including a full Environmental Impact Assessment (**EIA**). An independent fatigue assessment indicated no material reduction to the vessel's fatigue life under **Timor Sea** operating conditions. **Finder** targets **FID** in mid-**2026** and first oil in late **2027**. **Accelerated Project Development Timeline** Front-End Engineering Design (**FEED**) for the **KTJ Subsea Production System (SPS)** and production wells was completed on schedule and on budget in **February 2026**. This completion positions the company to move into procurement, financing, and approvals for **FID**, targeted for mid-**2026**. **Finder**'s strategy includes leveraging its owned **Petrojarl I FPSO** and a strategic alliance with **SLB** to fast-track development, completing key drilling and subsea FEED components ahead of schedule. A farm-in agreement with **TIMOR GAP** secures **50 per cent** of the total **KTJ** development capital expenditure up to a gross cap of **US$338 million**. **Finder** is actively progressing debt funding for its remaining share of development capital ahead of **FID**. **KTJ Resource Base and Upside** The **KTJ Project** includes **25 million barrels (MMbbl)** gross **2C** contingent resources. Additional identified upside comprises **23 MMbbl** gross **2C** contingent resources within **PSC 19-11**. Furthermore, **116 MMbbl** gross **2U** prospective resources have been identified within the same permit area. **Finder**'s upside strategy involves using the **Petrojarl I FPSO** as a central processing and export point to potentially enable tie-backs of surrounding discoveries, subject to successful appraisal and exploration. This could also support stand-alone development further south within **PSC 19-11**. **Outlook and Risks** The approval of the **KTJ Development Area** is a critical step, de-risking the project and strengthening the pathway to **FID**. Continued progress on engineering, financing, and regulatory approvals will be key. Investors will monitor the execution of the produced water treatment system, corrosion mitigation, and successful debt funding to fully realise the project's potential. Cost and schedule uncertainty, CO2-related corrosion risk, potential for further engineering constraints, and funding execution remain important considerations. ### Related Stocks - [MLPA.US](https://longbridge.com/en/quote/MLPA.US.md) - [EMLP.US](https://longbridge.com/en/quote/EMLP.US.md) - [FENY.US](https://longbridge.com/en/quote/FENY.US.md) - [UNG.US](https://longbridge.com/en/quote/UNG.US.md) - [TPYP.US](https://longbridge.com/en/quote/TPYP.US.md) - [AMLP.US](https://longbridge.com/en/quote/AMLP.US.md) ## Related News & Research - [ROI-Opening Hormuz is the easy part. 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