• ANP approves Field Development Plan for KTJ Project
• Substantially de-risks project and clears path to FID
• Targeting First Oil in late 2027 to early 2028

Finder Energy Holdings Ltd is pleased to announce that the Autoridade Nacional do Petróleo (ANP) has approved the Field Development Plan (FDP) for the Kuda Tasi and Jahal Project (KTJ Project). This approval marks a significant milestone, de-risking the project and enabling the Joint Venture to progress to Final Investment Decision (FID). The approved FDP outlines a phased development centred on the redevelopment of the Petrojarl I FPSO, three subsea production wells, and associated subsea infrastructure. The facilities have been designed with expansion capacity to support future discoveries and tie-back opportunities within PSC 19-11, establishing long-term production infrastructure for Timor-Leste. The approved development concept is described in the FDP. The approval substantially de-risks the KTJ Project by confirming regulatory acceptance of the selected development concept, validating the subsurface, engineering, and economic work completed during FEED, enabling FID, providing increased certainty for debt financing and commercial negotiations, and supporting execution of major engineering, procurement, and contracting activities.

First Oil targeted in late 2027 to early 2028

Finder is focused on completing the remaining workstreams required to support FID, including project financing, drilling and major project contracts, procurement, and environmental approvals.