Finder Energy has contracted ENEOS Drilling’s semisub Hakuryu-5 for a firm three-well program for the Kuda Tasi and Jahal (KTJ) oilfields development offshore Timor-Leste.

Terms include options for two additional two wells. The contract remains conditional on securing board, joint venture and government approvals by Dec. 3, and further approvals from ENEOS’ parent company by Nov. 16.

Drilling would start Dec. 1, 2027 with an estimated duration of about 150 days to drill and complete the wells for production, including running completion assemblies and installing wellheads and xmas trees for hook-up to the FPSO Petrojarl I.

The two optional drilling slots could be used either to accommodate participation by other operators in a rigshare program, creating opportunities for cost/operational synergies; or to conduct exploration or appraisal drilling for potential tiebacks within the 19-11 PSC.

Service contracts awarded ahead of FID

Finder has already awarded the following contracts to support the drilling process:

• Sumitomo will manufacture and supply oil country tubular goods, including casing, production liner and completion tubing;
• OneSusea is fabricating three xmas trees, while wellheads have been purchased from another joint venture;
• AGR will provide integrated drilling management services to support planning, management and execution of the development drilling program, while Finder retains overall responsibility as operator; and
• SLB will supply the upper completion equipment for the development wells, including downhole flow-control valves, gauges, chemical-injection, packers, subsurface safety valves, control lines, cables, protectors, and splices. 

Remaining workstreams to achieve FID including satisfying each partner’s investment criteria; securing joint venture and regulatory approvals; completing major project agreements and financing arrangements.

FID for the KTJ project is currently targeted by Nov. 30.