Sunda Energy and Finder Energy, through their respective subsidiaries, have signed a non-binding letter of intent (LoI) to jointly secure a drilling platform for their separate offshore projects in Timor-Leste.
The subsidiaries, SundaGas Banda Unipessoal and Finder Timor-Leste, intend to carry out combined drilling operations, with the aim of streamlining the process and reducing costs by sharing resources such as drilling rigs and materials.
Under the terms of the LoI, SundaGas and Finder plan to contract for a suitable semi-submersible platform capable of operating in both companies’ wells. They also intend to collaborate on project management, procurement of necessary services, logistics and planning.
Finder Timor-Leste is the operator of the Kuda Tasi and Jahal (KTJ) fields in partnership with Timor Gap.
SundaGas Banda Unipessoal operates production sharing contract (PSC) TL-SO-19-16, which includes the Chuditch gas field where the Chuditch-2 appraisal well is planned.
Finder expects to begin drilling at least three wells as part of its KTJ development program before making a final investment decision (FID) in mid-2026.
The Chuditch-2 well, initially scheduled for the second quarter of 2026 (Q2 2026), will be rescheduled to align with the Finder campaign. Drilling is now expected to begin as soon as possible in 2027, subject to platform availability.
Both companies said platform sharing solves previous difficulties in securing a platform, particularly for shorter projects like Chuditch-2, which alone requires 35 to 40 days.
The combination of both companies’ drilling campaigns extends the operational duration to almost 200 days, which the parties believe offers a more favorable proposition for contractors.
Minor technical adjustments will be made to the engineering design of the Chuditch-2 well to accommodate the shared platform concept.
Sunda Energy and Finder have begun discussions on the logistics and detailed management of the project. Finder is advancing its efforts to secure the necessary type of semi-submersible platform for operations at both locations, which vary in water depth.
SundaGas has requested upstream regulator Autonomia do Petróleo (ANP) for a contract extension for PSC TL-SO-19-16, which currently expires on June 18, 2026.
The ANP is considering the request in light of the modified operational plans.
Andy Butler, CEO of Sunda Energy, said: “I am delighted with the plans agreed with Finder to align our planned drilling activities with their KTJ development project. This collaborative initiative would create many potential synergies and help both parties effectively achieve their respective operational objectives.