Timor-Leste’s Autoridade Nacional do Petróleo (ANP) has approved the Environmental Impact Statement (EIS) for Finder Energy’s Kuda Tasi and Jahal (KTJ) offshore oilfields development.

This and the previously approved Field Development Plan establishes the main regulatory foundations for a development as the project moves towards FID, Finder said.

The environmental framework addresses development, construction, installation, operation and eventual decommissioning of the KTJ fieds and facilities, along with environmental management and monitoring requirements throughout the project’s lifecycle.

MCC Sustainable Futures and Timor-Leste advisory group Halona Serena had undertaken an environmental assessment process.

Finder plans to develop the fields in the Timor Sea via subsea wells connected to an FPSO moored in 400 m of water. It is targeting initial production rates of 25,000 to 40,000 b/d.

Damon Neaves, CEO of Finder, said: “Approval of the EIS is a major milestone and represents another important step in de-risking the KTJ Project. 

“With both the FDP and EIS now approved, the key regulatory foundations for development are in place. We continue to work with our joint venture partner and other stakeholders to complete the remaining commercial and financial activities to achieve FID.”